Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading
developer of spider silk based fibers, announces today that its
subsidiary Prodigy Textiles has taken possession of its factory in
Vietnam. The Company is now retrofitting the nearly 50,000 square foot
facility to produce its game changing recombinant spider silk materials.
Remodeling efforts are expected to be minimal and completed quickly.
This facility was selected based on its optimal layout and existing
infrastructure.
“Our people on the ground in Vietnam are wasting no time getting this
facility into operation. We have outlined a very aggressive timeline for
bringing the factory online and we are monitoring progress daily,” said
Kraig’s COO Jon Rice. “We are very pleased to see how quickly things are
moving and look forward to completing the transition. We expect to make
delivery of the first production batch of our recombinant spider silk
thread from this factory to one of our strategic market channel partners
in the third or fourth quarter.”
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com),
a reporting biotechnology company, is the leading developer of
genetically engineered spider silk based fiber technologies.
The Company has achieved a series of scientific breakthroughs in the
area of spider silk technology with implications for the global textile
industry.
Cautionary Statement Regarding Forward-Looking Information
Statements in this press release about the Company’s future and
expectations other than historical facts are “forward-looking
statements.” These statements are made on the basis of management’s
current views and assumptions. As a result, there can be no assurance
that management’s expectations will necessarily come to pass. These
forward-looking statements generally can be identified by phrases such
as “believes,” “plans,” “expects,” “anticipates,” “foresees,”
“estimated,” “hopes,” “if,” “develops,” “researching,” “research,”
“pilot,” “potential,” “could” or other words or phrases of similar
import. Forward looking statements include descriptions of the Company’s
business strategy, outlook, objectives, plans, intentions and goals. All
such forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
those in forward-looking statements. This press release does not
constitute an offer to sell or the solicitation of an offer to buy any
security.
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