Clearmind Medicine Inc. entered into a Conversion Agreement on April 15, 2026, to convert $875,000 of a convertible note into common shares at a fixed price of $0.60 per share, overriding the original note's conversion formula.
Key takeaways
The company agreed to convert $875,000 of a convertible note into common shares at a fixed price of $0.60 per share, overriding the original conversion formula.
The conversion price floor for the note was amended to $0.60 per common share, providing price certainty for this transaction.
The common shares to be issued are registered for resale under an effective registration statement and will be issued without restrictive legends.
The agreement includes a 4.99% ownership limitation, preventing any holder from exceeding this threshold of the company's outstanding common shares.
The company represented that no event of default has occurred under the note as of the agreement's effective date.