Clearmind Medicine Announces $600,000 Debt-to-Equity Conversion and Amendment to Floor Price

On May 19, 2026, Clearmind Medicine Inc. entered into a Conversion Agreement with certain accredited investors (the CLA Investors) to convert outstanding debt into equity. Under the agreement, the investors converted an aggregate of $600,000 in outstanding principal from two convertible promissory notes (originally issued in February and May 2026) into common shares. The parties agreed to a fixed conversion price of $0.30 per share, overriding the previous formula-based pricing. Additionally, the company amended the floor price in its existing securities purchase agreements to $0.30 per common share. The common shares issued upon conversion have been registered for resale under existing registration statements. This transaction is part of a larger financing framework established in September 2025, allowing for the issuance of up to $10,000,000 in convertible promissory notes. Clearmind confirmed that no event of default has occurred under the notes as of the effective date of this agreement.