Company: CMND
Filing Date: 2025-09-15
Form Type: POS AM
Source: 0001213900-25-087398
Chunk: 21

Company: Clearmind Medicine Inc.
Filing Date: 2025-09-15
Form: POS AM
Chunk 21
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 our clinical development and regulatory efforts, the status and results of
the clinical trials, the pace of our partnering efforts in regard to manufacturing and commercialization and the overall regulatory environment.
Therefore, our management will retain broad discretion over the use of the proceeds from this offering. We may ultimately use the proceeds
for different purposes than what we currently intend. Pending any ultimate use of any portion of the proceeds from this offering, if
the anticipated proceeds will not be sufficient to fund all the proposed purposes, our management will determine the order of priority
for using the proceeds, as well as the amount and sources of other funds needed.

Pending our application of the net proceeds from
this offering, we plan to invest such proceeds in short-term, investment-grade, interest-bearing securities and depositary institutions.

<div align='center'>DIVIDEND POLICY</div>

We have never declared or paid any cash dividends
to our shareholders of our Common Shares, and we do not anticipate or intend to pay cash dividends in the foreseeable future. Payment
of cash dividends, if any, in the future will be at the discretion of our board of directors, or our Board, in compliance with applicable
legal requirements and will depend on a number of factors, including future earnings, our financial condition, operating results, contractual
restrictions, capital requirements, business prospects, our strategic goals and plans to expand our business, applicable law and other
factors that our Board may deem relevant.

The Business Corporations Act (British Columbia),
as amended, or the BCBCA, imposes further restrictions on our ability to declare and pay dividends. See “Description of Share Capital—Dividends”
for additional information.

Payment of dividends may be subject to Canadian
withholding taxes. See “Item 10. – Additional Information – E. “Taxation — Material Canadian Federal Income
Tax Considerations” in our 2024 Annual Report incorporated by reference herein for additional information.

<div align='center'>9

CAPITALIZATION</div>

The following table sets forth our cash and
our capitalization as of July 31, 2025:

You
should read this information in conjunction with our consolidated financial statements and
the related notes appearing at the end of this prospectus and the “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” section and
other financial information contained in this prospectus.

|                                      |     | As of    
 July 31, 
 2025     |         |   |
|:-------------------------------------|:----