Company: CMND
Filing Date: 2025-12-05
Form Type: F-1/A
Source: 0001213900-25-118772
Chunk: 264

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-05
Form: F-1/A
Chunk 264
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 agreed to cooperate in conducting a feasibility study using certain molecules developed by each party (the “Cooperation Agreement”). Certain of the Company’s officers and directors currently operate, manage or are engaged as officers and/or directors of SciSparc.   In June 2023, the Company entered into a research agreement with the Hebrew University of Jerusalem to evaluate it’s and SciSparc’s combination treatment for obesity and metabolic syndrome.   To date, the collaboration has resulted in the filing of nine patent applications. To the extent the parties determine to proceed to a commercial cooperation, they will enter into a joint venture where the parties share the economics and rights on a 50%-50% basis. To date, no determination has been made to pursue the joint venture and the development of the molecule remains in a very early stage.   The Company incurred research and development expenses conducted within the framework of the Cooperation Agreement in the amount of $50,319, $141,409 and $194,205 for the years ended October 31, 2024, 2023 and 2022, respectively. As of October 31, 2024, $131,839 is owed to the Company by SciSparc (As of October 31, 2023- $136,002). |

| c. | The Company shares office space with SciSparc and participates 
 in the payment of office expenses– see Note 4.                 |

F-21 CLEARMIND MEDICINE INC. Notes to the Consolidated Financial Statements (Expressed in United States Dollars)

| 7. | Derivative          
 warrant liabilities |

| a. | On April 6, 2023, the Company issued 4,505,718 warrants in connection with its April 2023 Public Offering (“April 2023 Warrants”). The warrants include a cashless exercise provision and repricing adjustments for offerings at a price lower than the existing exercise price of the warrants, stock splits, reclassifications, subdivisions, and other similar transactions (“April 2023 Warrant Adjustments”) and therefore, these warrants were recorded at their fair value as a derivative liability and the time of the grant and are revalued at the end of each reporting period. The number of warrants does not change, however, the number of warrant shares issued may change, subject to the adjustment noted above. |

On January 21, 2024, following the January 2024 Public Offering, which included the offering of common shares at a price lower