Kraig Biocraft Laboratories Management Travels to Vietnam to Oversee the Opening of Its Spider Silk Production Subsidiary, Prodigy Textiles

Published: Jul 03, 2018

ANN ARBOR, Mich.--(BUSINESS WIRE)-- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk-based fibers, announces today that Jon Rice, the Company’s COO, is in Vietnam this week reviewing the new facility, interviewing potential hires, and meeting with local officials, as the next phase in launching operations at its newly formed production subsidiary, Prodigy Textiles Co. Ltd.

This trip marks the first time that Company management will be on the ground in Vietnam, since receiving its investment and enterprise registration certificates, the essential business licenses the Company had worked diligently to secure. Mr. Rice will remain in Vietnam through the end of the week, ensuring that the factory is on track to receive its first delivery of its proprietary hybrid silkworms.

“I am excited to see the new facility first hand and to review the progress getting the building ready to receive our hybrid silkworms,” said Rice. “Our consultants on the ground have been doing an excellent job of keeping this project moving forward. This will be a busy week of meetings, as we coordinate with contractors, officials, and potential new employees, as we work to get Prodigy Textiles up and running.”

The Company’s research team continues to prepare silkworm’s eggs for shipment, from its Michigan based R&D headquarters, and remains on track to ship materials, as soon as the new facility in Vietnam is ready.

To view the most recent edition of Kraig’s Spider Sense quarterly newsletter and/or to sign up for Company alerts, please go to www.KraigLabs.com/newsletter.

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.

 

Contacts

Hansel Capital, LLC
Ben Hansel, 720-288-8495
ir@KraigLabs.com

 

Source: Kraig Biocraft Laboratories

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