Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 210

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 10
Chunk 210
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 administration of the trust and one or more U. S. persons
have authority to control all substantial decisions of the trust, or (B) the trust has a valid election in effect to be treated as a
U. S. person to the extent provided in U. S. Treasury regulations.

This discussion does not purport to be a comprehensive
description of all of the U. S. federal income tax considerations that may be relevant to a decision to purchase our Common Shares. This
summary generally considers only U. S. Holders that will own our Common Shares as capital assets and does not consider the U. S. federal
income tax consequences to a person that is not a U. S. Holder, nor does it describe the rules applicable to determine a taxpayer’s
status as a U. S. Holder. This summary is based on the provisions of the Internal Revenue Code of 1986, as amended, or the Code, final,
temporary and proposed U. S. Treasury regulations promulgated thereunder, administrative and judicial interpretations thereof, and the
income tax treaty currently in force between the United States and Canada, or the Treaty, all as in effect as of the date hereof and
all of which are subject to change, possibly on a retroactive basis, and all of which are open to differing interpretations. We will
not seek a ruling from the Internal Revenue Service, or the IRS, with regard to the U. S. federal income tax treatment of an investment
in our Common Shares by U. S. Holders and, therefore, can provide no assurances that the IRS will agree with the conclusions set forth
below.

This discussion does not address all aspects of
U. S. federal income taxation that may be relevant to a particular U. S. Holder based on such U. S. Holder’s particular circumstances,
such as the alternative minimum tax and the net investment income tax, and does not discuss any estate, gift, generation-skipping transfer,
state, local, excise or non-U. S. tax considerations. In addition, this discussion does not address the U. S. federal income tax treatment
of a U. S. Holder who is subject to special rules under the Code, including: (1) a bank, insurance company, regulated investment company,
or other financial institution; (2) a broker or dealer in securities or foreign currency; (3) a person who acquired our Common Shares
in connection with employment or other performance of services; (4) a U