Apolo Gold & Energy Inc. (OTCPK:APLL) entered into an agreement to acquire 24% stake in Jiangxi Everenergy New Material Co., Ltd. from Tang Wenbo for $3.2 million on December 20, 2013. Under the terms of the deal, $1 million is paid in cash and 8 million shares of Apolo Gold & Energy will be issued. Jiangxi Everenergy New Material Co., Ltd. recorded total asset value of $17 million in 2012.

Apolo Gold & Energy Inc. (OTCPK:APLL) cancelled the acquisition of 24% stake in Jiangxi Everenergy New Material Co., Ltd. from Tang Wenbo on September 17, 2014. For the failure of Tang Wenbo and the Jiangxi Everenergy New Material Co., Ltd., to comply with article 4.7 in the asset sale & purchase agreements, Apolo Gold & Energy has terminated the aforesaid asset sale & purchase agreement.