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Provider: Reuters Investment Profile

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Apolo Gold & Energy Inc announces acquisition of additional lithium battery stake

Wednesday, 19 Feb 2014 09:25am EST 

Apolo Gold & Energy Inc:Says has acquired an additional 29 pct stake in Jiangxi Everenergy New Material Co Ltd.Apolo has agreed to issue 11 million restricted common shares of APOLO at a deemed price of $0.45 per share for this transaction for a sale value of $17 million.The 29 pct interest is being acquired from a private party.Apolo acquired its initial 24 pct stake on Dec. 23 for eight million shares and $1 million cash.The additional 29 pct brings Apolo's total stake to 53 pct giving it the controlling interest in the Jiangxi Everenergy New Material Co Ltd. 

Company Quote

-0.04 -21.05%
18 Jul 2014