Company: CMND
Filing Date: 2025-09-19
Form Type: F-1
Source: 0001213900-25-089545
Chunk: 13

Company: Clearmind Medicine Inc.
Filing Date: 2025-09-19
Form: F-1
Chunk 13
---
14%
upon an event of default, as defined in the Promissory Note).

<div align='center'>3</div>

The outstanding amount of
the principal and any accrued interest due under the Promissory Notes is convertible (partially or in full) into common shares, at the
option of the CLA Investors at any time after the Issuance Date, at a conversion price equal to the lower of (i) the Fixed Price or (ii)
the Variable Price, provided that the Variable Price may not be lower than the Floor Price. The CLA Investors’ options to convert
the outstanding amount due is subject to the limitation that the conversion may not result in each of the CLA Investors’ beneficial
ownership exceeding 4.99% of our outstanding common shares.

Implications of Being an “Emerging Growth Company” and a Foreign Private Issuer

Emerging Growth Company

We are an “emerging
growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, or the Securities Act, as modified by
the JOBS Act. As such, we are eligible to, and intend to, take advantage of certain exemptions from various reporting requirements applicable
to other public companies that are not “emerging growth companies” such as not being required to comply with the auditor attestation
requirements of Section 404 of the Sarbanes-Oxley Act of 2002. We could remain an “emerging growth company” for up to
five years, which will be December 31, 2027, or until the earliest of (a) the last day of the first fiscal year in which our annual
gross revenue exceeds $1.235 billion, (b) the date that we become a “large accelerated filer” as defined in Rule 12b-2
under the Securities Exchange Act of 1934, as amended, or the Exchange Act, which would occur if the market value of the securities that
are held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter,
or (c) the date on which we have issued more than $1 billion in nonconvertible debt during the preceding three-year period.

Foreign Private Issuer

We are subject to the information
reporting requirements of the Exchange Act that are applicable to “foreign private issuers,” and under those requirements
we will file reports with the United States Securities and Exchange Commission, or SEC.