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Clearmind Medicine Inc

For the period ended Oct 31, 2023. Filed Jan 29, 2024.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2023 · Filed Jan 29, 2024

CMND$5.58-4.6%Stored close · as of Nov 6, 2026
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**UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 20-F

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended October 31,2023

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report ____________

For the transition period from ____________ to ____________

Commission File No.:001-41557

Clearmind Medicine Inc.

(Exact name of registrant as specified in its charter)

Translation of registrant’s name into English: Not applicable

British Columbia101 – 1220 West 6th Avenue Vancouver, British Columbia
(Jurisdiction of incorporation or organization)(Address of principal executive offices)

Dr. Adi Zuloff-Shani

Chief Executive Officer

**101 – 1220 West 6 th Avenue

Vancouver, British Columbia V6H1A5

Tel:973.536.1016

Email: invest@clearmindmedicine.com

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each class to be registeredTrading Symbol(s)Name of each exchange on which each class is to be registered
Common shares, no parCMNDThe Nasdaq Stock Market LLC

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Number of outstanding shares of each of the issuer’s classes of capital or common stock as of October 31, 2023:607,337 Common shares.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act of 1934. Yes ☐No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company.

Large accelerated filer ☐Accelerated filer ☐Non-accelerated filer ☒
Emerging Growth Company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.☐

†The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing.

U.S. GAAP ☐International Financial Reporting Standards as issued by the International Accounting Standards Board ☒Other ☐

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. ☐ Item 17 ☐ Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company. Yes ☐ No☒

TABLE OF CONTENTS

Page
INTRODUCTIONiii
EMERGING GROWTH COMPANY STATUSiii
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSiv
MARKET, INDUSTRY, AND OTHER DATAv
PART I
ITEM 1.IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS1
ITEM 2.OFFER STATISTICS AND EXPECTED TIMETABLE1
ITEM 3.KEY INFORMATION1
A.[Reserved]1
B.Capitalization and Indebtedness1
C.Reasons for the Offer and Use of Proceeds1
D.Risk Factors1
ITEM 4.INFORMATION ON THE COMPANY62
A.History and Development of the Company62
B.Business Overview63
C.Organizational Structure98
D.Property, Plants and Equipment98
ITEM 4A.UNRESOLVED STAFF COMMENTS98
ITEM 5.OPERATING AND FINANCIAL REVIEW AND PROSPECTS98
A.Operating Results99
B.Liquidity and Capital Resources101
C.Research and Development, Patents and Licenses103
D.Trend Information103
E.Critical Accounting Estimates103
ITEM 6.DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES107
A.Directors and Senior Management107
B.Compensation110
C.Board Practices114
D.Employees120
E.Share Ownership120
ITEM 7.MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS123
A.Major Shareholders123
B.Related Party Transactions125
C.Interests of Experts and Counsel126
ITEM 8.FINANCIAL INFORMATION126
A.Consolidated Statements and Other Financial Information126
B.Significant Changes126
ITEM 9.THE OFFER AND LISTING126
A.Offer and Listing Details126
B.Plan of Distribution126
C.Markets126
D.Selling Shareholders126
E.Dilution127
F.Expenses of the Issue127

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ITEM 10.ADDITIONAL INFORMATION127
A.Share Capital127
B.Articles of Association127
C.Material Contracts127
D.Exchange Controls127
E.Taxation127
F.Dividends and Paying Agents134
G.Statement by Experts134
H.Documents on Display134
I.Subsidiary Information134
ITEM 11.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK135
ITEM 12.DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES136
PART II
ITEM 13.DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES137
ITEM 14.MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS137
ITEM 15.CONTROLS AND PROCEDURES137
ITEM 16.[RESERVED]138
ITEM 16A.AUDIT COMMITTEE FINANCIAL EXPERT138
ITEM 16B.CODE OF ETHICS138
ITEM 16C.PRINCIPAL ACCOUNTANT FEES AND SERVICES138
ITEM 16D.EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES139
ITEM 16E.PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS139
ITEM 16F.CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT139
ITEM 16G.CORPORATE GOVERNANCE139
ITEM 16H.MINE SAFETY DISCLOSURE141
ITEM 16IDISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS141
ITEM 16JINSIDER TRADING POLICIES141
ITEM 16KCYBERSECURITY141
PART III
ITEM 17.FINANCIAL STATEMENTS142
ITEM 18.FINANCIAL STATEMENTS142
ITEM 19.EXHIBITS142
SIGNATURES144

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.