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Clearmind Medicine (NASDAQ: CMND) registers 22.6M resale shares tied to $10M notes
Clearmind Medicine Inc. (NASDAQ: CMND) has filed a Form F-3 to register for resale up to 22,626,988 common shares. These shares are tied to the conversion of up to $10.0M in principal plus accrued interest from convertible promissory notes held by institutional investors, assuming a conversion price of $0.60 per share, which represents approximately 222% of pre-offering outstanding shares. The company will not receive any proceeds from the resale of these registered shares, as all net proceeds will go to the selling shareholders, but it has already received $8.15M in gross proceeds from the promissory notes.