Company: CMND
Filing Date: 2025-09-15
Form Type: POS AM
Source: 0001213900-25-087398
Chunk: 22

Company: Clearmind Medicine Inc.
Filing Date: 2025-09-15
Form: POS AM
Chunk 22
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|:---------|--------:|:--|
| U.S. dollars in thousands            |     |          |         |   |
| Cash                                 |     | $        |   3,495 |   |
| Warrant liability                    |     |          |  (2,179 | ) |
| Shareholders’ equity:                |     |          |         |   |
| Share capital                        |     |          |  25,570 |   |
| Warrant reserve                      |     |          |     459 |   |
| Share-based payment reserve          |     |          |   2,249 |   |
| Accumulated other comprehensive loss |     |          |     (21 | ) |
| Deficit                              |     |          | (27,192 | ) |
| Total shareholders’ equity           |     |          |   1,066 |   |
| Total capitalization                 |     |          |   1,066 |   |

Unless
otherwise indicated, the number of common shares outstanding prior to and after this offering
is based on 5,379,441 Common Shares outstanding as of July 31, 2025. The number of Common
Shares referred to above to be outstanding after this offering and, unless otherwise indicated,
the other information in this prospectus, excludes as of such date:

| ● | 2,238,848 common shares issuable upon the exercise of warrants outstanding as of such date, at exercise prices ranging from $1.0777 to $243.75, all of which were vested as of such date; |
| ● | 5,521 common shares issuable upon the exercise of                                                                                                                                         
 options to directors, employees and consultants under our incentive option plan outstanding as of such date, at a weighted average                                                        
 exercise price of $434.63, of which 5,509 were vested as of such date; and                                                                                                                |
| ● | 88,248 common shares issuable upon the exercise                                                                                                                                           
 of restricted share units issued to consultants under consulting agreements.                                                                                                              |

<div align='center'>10

SELLING SHAREHOLDERS</div>

The common shares being offered by the selling
shareholders are those previously issued to the selling shareholders, and those issuable to the selling shareholders, upon exercise of
the January 2024 PIPE Warrants. For additional information regarding the issuances of the January 2024 PIPE Warrants, see “Prospectus
Summary – January 2024 Offering”