Apolo Gold & Energy Inc. cancelled the acquisition of additional 29% stake in Jiangxi Everenergy New Material Co., Ltd.
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.