Company: CMND
Filing Date: 2025-12-05
Form Type: F-1/A
Source: 0001213900-25-118772
Chunk: 272

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-05
Form: F-1/A
Chunk 272
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 February 14, 2022, the Company issued 45 common shares with a fair value of $17,584 to the CSO. |

| (iii) | On February 14, 2022, the Company completed a share purchase agreement with Xylo, whereby the Company issued a total of 2,208 units to Xylo in consideration for $750,000 (“Cash Financing”) and 27,778 common shares of Xylo (“Share Exchange”). Each unit is comprised of one common share and one warrant, with each warrant exercisable for a period of 18 months at CAD$60.00 per share (the “Xylo SPA”). The Xylo SPA contains certain anti-dilution provisions. |

Pursuant to the Cash Financing, the Company issued 1,325units at $ 720.00per unit for proceeds of $ 698,897.

In connection with the Cash Financing, the Company incurred finder’s fees of $ 69,890, which have been charged to the statement of changes in equity.

Pursuant to the Share Exchange, the Company issued 883units with a fair value of $ 455,487, consisting of common shares with a fair value of $ 372,745and warrants with a fair value of $ 82,742. The fair value of the warrants was determined using the Black-Scholes option pricing model with the following assumptions: Risk-free rate of 1.43%, expected life of 1.5years, and volatility of 107.46%.

In connection with the Share Exchange, the Company incurred finder’s fees of $ 50,000, which were allocated to the base cost of the shares in Xylo.

On June 29, 2022, the Company signed an amendment to the Xylo Agreement (“Xylo Amended Agreement”), pursuant to which, in the event of an initial public offering, Xylo would receive, in respect of the Cash Financing, for no additional consideration, the number of shares necessary to maintain an ownership percentage of the Company’s shares equal to the level of ownership it had at the time of the Xylo Agreement.

As of October 31, 2022, the Company recorded the fair value of this derivative financial liability in the amount of $ 290,569as a current liability.

F-27 CLEARMIND MEDICINE INC. Notes to the Consolidated Financial Statements (Expressed in United States Dollars)

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