SCHEDULE: Iroquois Capital Reports 9.99% Stake in Clearmind Medicine

Iroquois Capital Management, Richard Abbe, and Kimberly Page disclose beneficial ownership of up to 9.99% of Clearmind Medicine Inc. common stock.

Summary

• Iroquois Capital Management, LLC, Richard Abbe, and Kimberly Page (the "Reporting Persons") have filed an Amendment No. 4 to Schedule 13G for Clearmind Medicine Inc.
• The filing discloses beneficial ownership of common stock, including shares issuable upon the exercise of warrants.
• Iroquois Capital Management, LLC and Kimberly Page each beneficially own 131,886 shares, representing 8.1% of the class.
• Richard Abbe beneficially owns 166,464 shares, representing 9.99% of the class.
• The reported percentages give effect to "blockers" on the warrants, which prevent exercise if it would result in beneficial ownership exceeding 9.99% (or 4.99% for certain warrants).
• The beneficial ownership calculation is based on 1,499,838 common shares outstanding as of January 19, 2026, as reported in Clearmind Medicine Inc.'s Annual Report on Form 20-F.
• The securities were not acquired for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily a regulatory disclosure of beneficial ownership. It neither indicates significant positive nor negative operational developments for Clearmind Medicine Inc.

Risks

• The beneficial ownership percentages are subject to "blockers" on warrant exercise, which could limit the immediate increase in voting power or ownership if the Reporting Persons choose to exercise.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine disclosures by passive investors who acquire more than 5% of a company's stock, indicating a significant, non-controlling stake. This filing shows continued interest from Iroquois Capital Management in Clearmind Medicine Inc., a company in the pharmaceutical or biotechnology sector, given its name. Such disclosures can signal investor confidence or strategic positioning within the industry.

Comparison to Industry Standards

• StockSavvy.ai observes that a 9.99% beneficial ownership stake, particularly when structured with blockers, is a common strategy for institutional investors like Iroquois Capital Management to maintain significant exposure to a company's equity while avoiding certain regulatory thresholds or control implications.
• This is consistent with practices seen in other investment funds taking passive positions in emerging or specialized pharmaceutical companies, such as those held by similar funds in companies like MindMed or Compass Pathways, which operate in related therapeutic areas.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant passive ownership by institutional investors, potentially signaling confidence in the company. The existence of warrant blockers limits immediate dilution from full warrant exercise.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of passive beneficial ownership and does not provide new fundamental information about Clearmind Medicine Inc.'s operational performance, strategic direction, or financial health. While it confirms continued institutional interest, it does not present a compelling reason to alter an existing investment thesis. Therefore, a 'hold' recommendation is appropriate, pending further operational or financial updates from the company.

Keywords

Clearmind Medicine Inc., Iroquois Capital Management, Richard Abbe, Kimberly Page, Schedule 13G, Beneficial Ownership, Common Stock, Warrants, SEC Filing, Investment Advisor