Company: CMND
Filing Date: 2025-12-03
Form Type: 424B5
Source: 0001213900-25-117534
Chunk: 8

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-03
Form: 424B5
Chunk 8
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 effective in the treatment of substance addiction and specifically cocaine without interrupting the natural reward process. According to the United Nations Office on Drugs and Crime’s “2022 World Drug Report”, of the estimated 284 million people who had used drugs in the past year, approximately 13.6%, 38.6 million, are estimated to have suffered from drug use disorders. While some addictions, such as drugs and alcohol, are more concerning than others, addiction and compulsive behavior is not limited to these substances. Compulsive consumption of food, shopping, gambling, sex, television, and technology, many of which increased in prevalence during the recent pandemic, can all be destructive when their use cannot be managed and all can potentially be treated by MEAI.

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Recent Developments

Nasdaq Minimum Stockholders’ Equity Requirement

On November 3, 2025, we received a written notification (the “Notification Letter”) from the Listing Qualifications Department of Nasdaq Stock Market LLC (“Nasdaq”), notifying us that we are no longer in compliance with Nasdaq Listing Rule 5550(b)(1) (the “Minimum Stockholders’ Equity Rule”).

The Minimum Stockholders’ Equity requires companies listed on The Nasdaq Capital Market to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. However, based on our Form 6-K filed on September 11, 2025, where the Company filed its unaudited condensed interim consolidated financial statements for the three and nine months ended July 31, 2025, filed on September 11, 2025, we reported a stockholders’ equity of $1,065,668, and we do not meet the alternatives of market value of listed securities or net income from continuing operations. We are thus non-compliant with the Minimum Stockholders’ Equity Rule.

The Notification Letter has no immediate effect on our listing on The Nasdaq Capital Market at this time, nor are our business operations affected by receipt of the Notification Letter. In accordance with the Nasdaq Listing Rules, the Company has 45 calendar days, or until December 18, 2025, to submit a plan to regain compliance. If the plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from receipt of the Notification Letter to evidence compliance.

We are looking into various options available to regain compliance and maintain our continued listing on The Nasdaq Capital Market. There can be no assurance that