Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 97

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 3
Chunk 97
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 Canada.
It may also be difficult for Canadian investors to succeed in a lawsuit in the United States, based solely on violations of Canadian securities
laws.

Operating outside of the United States presents specific risks to
our business, and we have substantial operations outside of the United States.

Most of our employee base and operations are located
outside the United States, primarily in Canada and Israel. Most of our clinical testing, research, development and manufacturing operations
are conducted outside the United States.

Risks associated with operations outside the United
States include:

  fluctuating foreign currency rates could restrict sales, increase costs of purchasing, and impact collection of receivables outside of the United States;  

  volatility in foreign credit markets may affect the financial well-being of our customers and suppliers;  
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  violations of anti-corruption laws, including the Foreign Corrupt Practices Act and the U. K. Bribery Act could result in large fines and penalties;  

  violations of privacy and data security laws could result in large fines and penalties; and  

  tax disputes with foreign taxing authorities, and any resultant taxation in foreign jurisdictions associated with operations in such jurisdictions, including with respect to transfer pricing pr...  

Foreign currency fluctuations may reduce our competitiveness and
sales in foreign markets.

The relative change in currency values creates
fluctuations in potential product pricing for international customers. These changes in foreign end-customer costs may result in lost
orders and reduce the competitiveness of our products in certain foreign markets. These changes may also negatively impact the financial
condition of some foreign customers and reduce or eliminate their future orders of our products.

Adverse changes in, or uncertainty of, local business
laws or practices, including the following:

  foreign governments may impose burdensome tariffs, quotas, taxes, trade barriers, or capital flow restrictions;  
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  restrictions on the export or import of technology may reduce or eliminate the ability to sell in or purchase from certain markets;  
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  political and economic instability, including deterioration of political relations between the United States and other countries, may reduce demand for our solutions or put our non-U. S. assets...  
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