Clearmind Medicine (CMND) Registration Filing summary

Company overview and business model

• Clinical-stage pharmaceutical company developing novel psychedelic medicines targeting mental health disorders, with a primary focus on alcohol use disorder (AUD), binge drinking, and eating disorders.

• Lead compound MEAI is a non-hallucinogenic neuroplastogen designed to reduce alcohol cravings and provide an alcohol substitute with fewer health risks.

• Ongoing multinational Phase I/IIa clinical trials for CMND-100 (MEAI) in the US and Israel, with approvals from regulatory bodies and IRBs at major institutions.

• Strategic focus on regulatory approval via the FDA's 505(b)(1) pathway for novel drugs, requiring comprehensive clinical and nonclinical studies.

Financial performance and metrics

• As of October 31, 2025, cash and cash equivalents were $3.9 million (actual) and $17.9 million (pro forma, post-offering and conversions).

• In the last three years, 1,576,856 common shares issued for $14.8 million net proceeds; 122,361 warrants exercised for $5.3 million gross proceeds.

• Recent direct offerings in November and December 2025 raised approximately $7.2 million in aggregate gross proceeds.

• Audit report notes recurring losses from operations and insufficient resources, raising substantial doubt about ability to continue as a going concern.

Use of proceeds and capital allocation

• Net proceeds from Promissory Notes to be used for general corporate purposes, including operating expenses, R&D, clinical and pre-clinical testing, working capital, acquisitions, and capital expenditures.

• Management retains broad discretion over allocation and timing of expenditures, with proceeds invested in short-term, investment-grade securities pending use.