Clearmind Medicine to effect 1-for-8 reverse share split, trading from October 5, 2026

The terms

Clearmind Medicine Inc. (Nasdaq: CMND), based in Vancouver, British Columbia, said in a Form 6-K signed on September 30, 2026 that it will effect a reverse share split of its common shares at a ratio of 1-for-8. Each eight common shares, no par value, will be consolidated into one common share, no par value. The report is signed by Chief Executive Officer Adi Zuloff-Shani.

The first date the shares will begin trading on the Nasdaq Capital Market after the split is Monday, October 5, 2026. The company's authorized share capital will remain unchanged. The new CUSIP number for the shares will be 185053709.

The share counts

The report says the split will adjust the number of issued and outstanding common shares from 4,059,227 to 507,404, subject to any further adjustments based on the treatment of fractional shares. No fractional common shares will be issued. All fractional shares will be rounded up to the nearest whole common share.

A proportionate adjustment will also be made to the per share exercise price and to the number of common shares issuable on exercise of all outstanding options or warrants entitling holders to purchase common shares. A reverse split reduces the number of shares and raises the price per share in proportion. It adds no cash to the company and does not change what the company owns.

What the report does not say

The 6-K gives no reason for the split. It does not mention a Nasdaq deficiency notice, a minimum bid price requirement, a hearing or a deadline, and it gives no share price before or after the split. It does not say whether shareholders have approved the split or whether the board did.

The report states that it is incorporated by reference into the company's registration statements on Form F-3 (File Nos. 333-275991, 333-270859, 333-273293, 333-290404, 333-293521 and 333-295455) and on Form S-8 (File No. 333-283695), as part of those documents from the date it was submitted, to the extent not superseded by later filings. The company lists six Form F-3 registration statements, which are the documents a foreign issuer uses to register securities for sale, and one Form S-8.

The financial condition behind the split

The company's annual report on Form 20-F, filed in January 2026, sets out the financial position. In its summary of risk factors the company says it has incurred losses since its inception, expects significant losses for the foreseeable future and may never achieve or maintain profitability. It says its financial statements contain an explanatory paragraph regarding substantial doubt about its ability to continue as a going concern. It says it has never generated any revenue from product sales, and that it expects to need to raise substantial additional funding, which may not be available on acceptable terms, or at all.

The same summary lists product risks. The company says it has not commercialized any products and may not receive, or may be delayed in receiving, the necessary approvals for MEAI or future products. It says its current candidates contain psychedelic substances and may be subject to controlled substance laws and regulations, and that the use of potentially controlled substances may generate public controversy. It says the results of early-stage clinical trials and preclinical studies may not predict future results, that research and development of drugs targeting the central nervous system is particularly difficult, and that interim, top-line and preliminary data from its trials may change.

The 6-K itself reports no cash balance, financing or clinical result.

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