Ann: ASX Reinstatement and Corporate Update, page-2

Blina Minerals NL (ASX: BDI) (Blina Minerals or the Company) is pleased to
provide shareholders with an update in relation to the reinstatement of the
Company to Official Quotation of the ASX.
As shareholders are aware, the Company was suspended from Official
Quotation on the ASX on 18 March 2020. Since that date, the Company and
its Board have been working with our legal advisors and the ASX to seek
approval from the ASX to allow the Company to be reinstated to the Official
List of the ASX.
The Company is pleased to advise shareholders that the ASX has approved
the recapitalisation proposal of the Company and in addition has also
approved the Company’s proposed acquisition of the remaining 50% interest
in Colour Minerals Pty Ltd (CMPL), the 100% owner of the Barkly-Babbler
Copper-Gold Project located in the Northern Territory, Australia. The
remaining 50% interest is being acquired from Kalgoorlie Mine Management
Pty Ltd (KMM) for proposed total consideration of 100 million shares (on a
post-consolidation basis) and the issue of 50 million options (on a postconsolidation basis) exercisable at $0.03 per option (on a post-Consolidation
basis) expiring 3 years from the date of issue.
The completion of this acquisition will mean that BDI will own 100% of CMPL.
The reinstatement of BDI, a share and option placement, a Share Purchase
Plan (SPP) and the proposed acquisition of the remaining 50% interest in
CMPL are all conditional on shareholder approval.
Further details of the recapitalisation strategy are set out below.
Consolidation of Share and Option Capital
The Company will be consolidating its share and option capital on the basis
of 1 new share for each 50 shares currently held. This will have the effect of
reducing the total number of shares on issue to 125,385,429 shares and
reducing the total number of options on issue to 20,277,778 options with an
exercise price of $0.10 per option (on a post-Consolidation basis) and an
expiry date of 17 August 2021.
The consolidation of the Company’s share and option capital is subject to
approval from shareholders.