On July 27, 2009, European Nickel PLC ("European Nickel") completed the conditions precedent to a US$4 million secured bridging facility agreement with Endeavour Financial Corporation ("Endeavour Financial"). The facility agreement was signed on July 7, 2009. Under the terms of the facility agreement, European Nickel granted Endeavour Financial options to purchase 4,000,000 ordinary shares. European Nickel is an AIM listed mining company with nickel laterite projects in Turkey, the Philippines and Albania. It has developed a proprietary process for the extraction of nickel from nickel laterites which is lower cost than conventional processes. European Nickel was advised in this transaction by a team from Fasken Martineau LLP led by Thomas Wexler and Mark Camilleri and including Minay Mahidharia.