Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 79

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 3
Chunk 79
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 to cease operations. Further, research programs
to identify new product candidates require substantial technical, financial and human resources. We may focus our efforts and resources
on potential programs or product candidates that ultimately prove to be unsuccessful.

European data collection is governed by restrictive regulations
governing the collection, use, processing and cross-border transfer of personal information.

We may collect, process, use or transfer personal
information from individuals located in the European Union in connection with our business, including in connection with conducting clinical
trials in the European Union. Additionally, we intend to commercialize MEAI, and any of our product candidates that receive marketing
approval, in the European Union. The collection and use of personal health data in the European Union is governed by the provisions of
the General Data Protection Regulation ((EU) 2016/679), or the GDPR, along with other European Union and country-specific laws and regulations.
The United Kingdom and Switzerland have also adopted data protection laws and regulations. These legislative acts (together with regulations
and guidelines) impose requirements relating to having legal bases for processing personal information relating to identifiable individuals
and transferring such information outside of the EEA, including to the United States, providing details to those individuals regarding
the processing of their personal information, keeping personal information secure, having data processing agreements with third parties
who process personal information, responding to individuals’ requests to exercise their rights in respect of their personal information,
reporting security breaches involving personal data to the competent national data protection authority and affected individuals, appointing
data protection officers, conducting data protection impact assessments and record-keeping. The GDPR imposes additional responsibilities
and liabilities in relation to personal data that we process and we may be required to put in place additional mechanisms ensuring compliance
with the new data protection rules. Failure to comply with the requirements of the GDPR and related national data protection laws of the
member states of the European Union may result in substantial fines, other administrative penalties and civil claims being brought against
us, which could have a material adverse effect on our business, prospects, financial condition and results of operations.

The United Kingdom’s withdrawal from the European Union may
adversely impact our ability to obtain regulatory approvals of our product candidates in the United Kingdom, result in restrictions or
imposition of taxes and duties for importing our product candidates into the United Kingdom, and may require us to incur additional expenses
in order to develop, manufacture and commercialize our product candidates in the United Kingdom.

Following the result of a referendum in 2016