Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 100

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 3
Chunk 100
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 upon our senior
management as well as other employees, consultants and scientific and medical collaborators. Our management team must be able to act decisively
to apply and adapt our business model in the rapidly changing markets in which we will compete. In addition, we will rely upon technical
and scientific employees or third-party contractors to effectively establish, manage and grow our business. Consequently, we believe that
our future viability will depend largely on our ability to attract and retain highly skilled managerial, sales, scientific and technical
personnel. In order to do so, we may need to pay higher compensation or fees to our employees or consultants than currently expected and
such higher compensation payments may have a negative effect on our operating results. Competition for experienced, high-quality personnel
in the medical device field is intense. We may not be able to hire or retain the necessary personnel to implement our business strategy.
Our failure to hire and retain quality personnel on acceptable terms could impair our ability to develop new products and services and
manage our business effectively.

Our business and operations might be adversely affected by security
breaches, including any cybersecurity incidents.

We depend on the efficient and uninterrupted operation
of our computer and communications systems, and those of our consultants, contractors and vendors, which we use for, among other things,
sensitive company data, including our intellectual property, financial data and other proprietary business information.

While certain of our operations have business continuity
and disaster recovery plans and other security measures intended to prevent and minimize the impact of IT-related interruptions, our IT
infrastructure and the IT infrastructure of our consultants, contractors and vendors are vulnerable to damage from cyberattacks, computer
viruses, unauthorized access, electrical failures and natural disasters or other catastrophic events. We could experience failures in
our information systems and computer servers, which could result in an interruption of our normal business operations and require substantial
expenditure of financial and administrative resources to remedy. System failures, accidents or security breaches can cause interruptions
in our operations and can result in a material disruption of our targeted phage therapies, product candidates and other business operations.
The loss of data from completed or future studies or clinical trials could result in delays in our research, development or regulatory
approval efforts and significantly increase our costs to recover or reproduce the data. To the extent that any disruption or security
breach were to result in a loss of, or damage to, our data or applications, or inappropriate disclosure of confidential or proprietary
information, we could incur regulatory investigations and redresses, penalties and liabilities and