Item 1.01: Entry into a Material Definitive Agreement.
Effective February 17, 2014, Apolo Gold & Energy Inc. ("Apolo" or the "Company")
(OTCQB:APLL), a Nevada Corporation, has acquired a 29% interest in the shares
and assets of Everenergy New Material Co., Ltd. (Everenergy), from Mr. Hu
Qinjian, Apolo has agreed to issue 11 million restricted common shares of APOLO
at a deemed price of US$0.45 per share for this transaction.
As disclosed pursuant to a Form 8-K filed December 23, 2013, Apolo previously
acquired a 24% interest in the shares and assets of Everenergy New Material Co.,
Ltd. (Everenergy) from Mr. Tang Wenbo. Apolo issued 8 million restricted common
shares of APOLO at a deemed price of US$0.375 per share) and paid US$1.0M in
cash for this transaction. It should be noted that the Form 8-K filed December
23, 2013 disclosing the acquisition of the 24% interest in Everenergy from Mr.
Tang Wenbo contained an error. The disclosure stated that the factory covered an
area of 100 acres. This figure was in error. As noted below, the factory covers
an area of 16.5 acres. We apologize for the error.
This additional acquisition brings Apolo's total interest in the Everenergy New
Material Co., Ltd. to 53% and constitutes control of Everenergy
Everenergy is located in the Li-ion Battery high-tech industrial park of Yi
Chun, Jiangxi Province, China. It was founded in July 2010 with a registered
capital of 22 million RMB and a total asset value on its balance sheet of 107.9
million RMB (US$17 Million). The factory covers an area of 16.5 acres. The
company deals mainly with the R & D, production and sales of high quality
lithium batteries, cathode materials and relevant precursor materials.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description
10.6 Asset Purchase and Sale Agreement between Apolo Gold & Energy Inc.,
Mr. Hu Qinjian and Everenergy New Material Co., Ltd., dated February
99.1 News Release dated February 19, 2014