Company: CMND
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001213900-25-112329
Chunk: 26

Company: Clearmind Medicine Inc.
Filing Date: 2025-11-19
Form: 424B5
Chunk 26
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 per Common Share after this offering           |     |     |  0.25 |   |
| Dilution per Common Share to new investors                                                   |     |     | (0.05 | ) |

To the extent that outstanding
options are exercised, new options or warrants are issued or we issue additional Common Shares in the future, there will be further dilution
to new investors. We may choose to raise additional capital due to market conditions or strategic considerations even if we believe we
have sufficient funds for our current or future operating plans. To the extent that we raise additional capital through the sale of equity
or convertible debt securities, the issuance of these securities could result in further dilution to our equity holders.

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 RSUs issued to consultants under consulting agreements.                                                                                                                                                      |

<div align='center'>S-13

DESCRIPTION OF SECURITIES WE ARE OFFERING</div>

Common Shares

The material terms and provisions
of our common shares are described under the heading “Description of Share Capital” in the accompanying prospectus.

<div align='center'>USE OF PROCEEDS</div>

We estimate that the net proceeds
from our issuance and sale of Common Shares in this offering will be approximately 2.1 million, after deducting offering expenses
payable by us.

We currently expect to use
the net proceeds from this offering for general corporate purposes, which may include operating expenses, research and development, including
clinical and pre-clinical testing of our product candidates, working capital, future acquisitions and general capital expenditures.

The amounts