Consolidated Tin Mines Limited (ASX:CSD) announced that it has entered into share subscription agreement with Wealth Pointer Global Limited for private placement of 34,710,743 common shares at a price of AUD 0.605 for gross proceeds of AUD 20,999,999.52 on April 4, 2019. The investor will acquire 5.99154% stake in the company. The transaction is subject to conditions, including finalization of due diligence by Wealth Pointer Global Limited by June 30, 2019 and execution of a loan conversion agreement between Cyan Stone Pty Ltd and the company in relation to the loans provided by Cyan Stone Pty Ltd. The share subscription agreement allows Wealth Pointer Global Limited to waive these conditions. The company is targeting completion of the placement within four to six weeks. The company will pay expenses of AUD 1,000,000 with respect to the transaction. The transaction does not require shareholder approval for the placement of the shares.