Company: CMND
Filing Date: 2025-12-05
Form Type: F-1/A
Source: 0001213900-25-118772
Chunk: 281

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-05
Form: F-1/A
Chunk 281
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 in results of the Company’s development shall be solely owned by the Company. |

| d. | In respect to the Company’s lease commitment, 
 refer to Note 4.                              |

F-34 CLEARMIND MEDICINE INC. Notes to the Consolidated Financial Statements (Expressed in United States Dollars)

| 15. | Segmented   
 Information |

As of October 31, 2024, the Company has one operating segment, research and development of psychedelic medicine, which takes place primarily in Israel.

| 16. | Income 
 Taxes  |

Tax rates applicable to the Company:

The combined Canadian federal and provincial statutory income tax rate is 27% for years ended October 31, 2024, 2023 and 2022 and the Israeli statutory corporate tax rate was 23% in 2024, 2023 and 2022.

The tax effect (computed by applying the Canadian federal and provincial statutory rate) of the significant differences, which comprise deferred income tax assets and liabilities, are as follows:

|                                                   |     | 2024 
    $ |            |   |     | 2023 
    $ |            |   |     | 2022 
    $ |            |   |
| Canadian statutory income tax rate                |     |      |         27 | % |     |      |         27 | % |     |      |         27 | % |
| Income tax recovery at statutory rate             |     |      | (1,316,712 | ) |     |      | (2,322,936 | ) |     |      | (1,861,476 | ) |
| Tax effect of:                                    |     |      |            |   |     |      |            |   |     |      |            |   |
| Items not deductible for tax purposes             |     |      |    (20,556 | ) |     |      |    223,809 |   |     |      |    335,494 |   |
| Over provided in prior years                      |     |      |   (384,109 | ) |     |      |    (19,674 | ) |     |      |          - |   |
| Tax rate difference for foreign jurisdiction      |     |      |     (5,365 | ) |     |      |     10,715 |   |     |      |     56,175 |   |
| Change in unrecognized deferred income tax assets |