Apolo Gold & Energy Inc. (OTCPK:APLL) agreed to acquire 29% stake in Jiangxi Everenergy New Material Co., Ltd for $5 million in stock on February 17, 2014. Under the terms of agreement, Apolo Gold & Energy agreed to issue 11 million restricted common shares for $0.45 per share.

Apolo Gold & Energy Inc. (OTCPK:APLL) cancelled the acquisition of additional 29% stake in Jiangxi Everenergy New Material Co., Ltd on September 17, 2014. For the failure to comply with certain terms and conditions in the asset sale & purchase agreement, Apolo Gold & Energy has terminated the aforesaid asset sale & purchase agreement and will take the necessary steps to cancel all 1.9 million shares issued and recover the $1 million.