From Kinross news release --

After giving effect to the private placement and the exercise of the warrants, Kinross will hold 1.8 million common shares which, together with the 2,718,181 common shares held by Kinross prior to the private placement, constitutes 11.1 per cent of Underworld's outstanding common shares. The subscription price for the units is $1.25 per unit for a total purchase price of $1.5-million. The private placement is subject to approval by the TSX Venture Exchange.

The investment in Underworld is part of Kinross's strategy to maximize exposure to new prospects and experienced explorationists at a relatively small capital investment by partnering with promising junior companies on a select basis. Underworld is a junior exploration company focused on expanding its new gold discovery in Canada's Yukon Territory.

Underworld news release --

2009-06-19 16:53 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced June 2, 2009.

Number of shares: 10 million non-flow-through (NFT) shares (brokered), 2,415,000 flow-through (FT) shares (brokered), 500,000 non-flow-through shares (non-brokered) and 34,500 flow-through shares (non-brokered)

Purchase prices: $1.25 per non-flow-through share and $1.45 per flow-through share

NFT warrants: 5.25 million share purchase warrants (comprising non-flow-through units) to purchase 5.25 million shares

Warrant exercise price: $1.60 for a one-year period

FT warrants: 1,224,750 share purchase warrants (comprising flow-through units) to purchase 1,224,750 shares

Warrant exercise price: $1.65 for a one-year period

The warrants will be subject to acceleration in the event the common shares of the issuer trade above $2 for 15 consecutive trading days.

Hidden placees: 142 hidden placees participated

Insiders: Kinross Gold Corp. (new), 1.2 million NFT shares; Jeff Sundar, 30,000 NFT shares

Pro groups: Lisa Stefani, 24,000 FT shares; Catherine Seltzer, 34,500 FT shares

Agents' fees: $960,105 cash and 419,340 agent's warrants payable to Canaccord Capital Corp.; 209,670 agent's warrants payable to Axemen Resource Corp.; 69,890 agent's warrants payable to Dundee Securities Corp.; 46,000 agent's warrants payable to Wolverton Securities Ltd.

Finder's fee: $30,000 cash and 24,000 finder's warrants payable to Global Resource Investments Ltd.