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Organisation and Description of Business
12 Months Ended
Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organisation and Description of Business

NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS

 

Apolo Gold & Energy, Inc., formerly known as Apolo Gold Inc., (hereinafter “the Company”) was incorporated in March of 1997 under the laws of the State of Nevada primarily for the purpose of acquiring and developing mineral properties. The Company conducts operations primarily from its administrative offices in Vancouver, British Columbia, Canada. In 1997, the Company formed a subsidiary corporation, Compania Minera Apologold C.A., in Venezuela, which was originally used to acquire a Venezuelan mining property. The subsidiary has had no financial transactions since 2001 and is no longer active.

 

On April 16, 2002, the Company signed an agreement to enter into a joint venture to explore a mineral property (the “Napal Gold Property”) in Indonesia. Upon signing this agreement, the Company entered a new exploration stage and commenced exploration of the Napal Gold Property, which was not yet under production. In the year ended June 30, 2008, the Company abandoned the Napal Gold Property and its exploration efforts in Indonesia.

 

In December 2013, the Company acquired a 70% interest in three gold exploration properties in China.

 

On December 5, 2013, the Company acquired a 24% interest in Jiangxi Everenergy New Material Co., Ltd. (“Everenergy”). The Company issued eight million restricted common shares as consideration.

 

On February 19, 2014, the Company issued an additional 11-million restricted common shares and paid $1-million to acquire a further 29% interest in Everenergy. Subsequent to the year-end, on September 17, 2014, the Company cancelled both transactions with Everenergy and has requested return of the $1-million payment and all the shares.

 

The Company will continue to investigate new mineral property exploration and other energy related investments.