European Nickel PLC: Completion of Loan Facility and Drawdown of Loan | Company Announcements

Monday 27 July, 2009

European Nickel PLC

Completion of Loan Facility and Drawdown of Loan





27 July 2009 - London: European Nickel PLC ("European Nickel" or the
"Company") (AIM, PLUS: ENK) is pleased to announce that it has
completed the outstanding conditions precedent of the bridging loan
facility previously announced on 8th July 2009 (the "Loan").

Under the terms of the facility agreement, the Company has granted
Endeavour Financial Corporation a three-year option to purchase
3,200,000 ordinary shares in the Company at an exercise price of
6.917 pence per share, which became due upon satisfaction of the
conditions precedent to drawdown of the Loan.

The US$4.0 million Loan has now been drawndown.


For more information, please visit www.enickel.co.uk or contact:


Simon Purkiss or Andrew Lindsay, European          Tel: 020 7290 3130
Nickel
Mike Jones or Andrew Chubb, Canaccord Adams        Tel: 020 7050 6500
Alex Buck, BuckBias                                Tel: 07932 740 452

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