Greenedge Ethical announces extension of the Share Offer, with the ASX listing allowing the Company to extend the offer period up to a total of 3 months.

Greenedge Ethical is now accepting Share Applications until 5pm (WST) on 19 of December 2008.

The Greenedge Ethical Board has resolved to extend its IPO closing date to facilitate further funds being raised in the current economic landscape. The Company's existence during these times has become even more imperative, as no other Company exists within Australia to fund such Ecovillage and Eco Retirement developments.

The trend in applications for Greenedge Ethical shares have increased as the credit crunch continues to cause downturns for traditional financial institutions. 61.5% of Greenedge Ethical Share Applications were received within the week starting 10 November.

Following a range of investment presentations held nationally during November, investors have since seized the opportunity to purchase shares in a Company that backs residential property developments within the Ecovillage, sustainable development and Green Retirement Village growth sectors.

"The Board are confident that, by giving investors more time in the current economic climate, more capital can be raised" says Managing Director Paul Antonelli. "It is still the intention of Greenedge Ethical to list to ensure that our ‘Smart Money' model for the financial backing of Ecovillage developments will become an investment alternative for the market."

Whilst originally placed to raise $8M by 14 November, the release of the IPO during the challenging October period in the financial market impacted on the number of shares applied for at the beginning of the initial 37 day opening. However over the weeks that many stocks have plummeted, particularly within the finance and resource sectors, Greenedge Ethical has received its highest levels of interest.

Click here to take advantage of the extension of the Share Offer.