Company seen as nearing final clearance to begin hybridization in Vietnam.
ANN ARBOR, Mich., Oct. 17, 2017 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB:KBLB) (“Company”), the leading developer of spider silk based fibers, today announced that Company management has recently returned from a series of highly productive meetings with high level provincial and central government officials in Vietnam. During these meetings the Company received the support and verbal approval to import the Company’s hybrid silkworms and begin selective breeding. This is the critical step in advancing the Company’s plans for commercial production in South East Asia.
During this trip, the Company’s management also met with its local architecture firm to review the master build plan for its proposed production site on 50 hectares. Management also toured an existing facility which has been selected as the probable headquarters for its hybridization operations and early stage production.
The Company is now working with officials from the Province as well as the Ministry to formalize the approvals granted during the meeting in Ha Noi. “To the best of our knowledge, clearance from one additional governmental unit is the only remaining regulatory hurdle to advancing the Company’s plans for selective breeding in Vietnam,” said COO Jon Rice. The Company is now working with its consultants in Vietnam to expedite final clearance and to answer any additional questions or comments from the relevant Ministry.
“Obtaining this approval has been a lengthy process involving years of work in collecting data and conducting numerous meetings sharing that data with governmental agencies,” said CEO and Founder Kim Thompson. “The focus of those meetings has been answering their questions about our technology and how it can benefit the people and economy. We believe that the most significant bureaucratic and regulatory hurdles are now behind us. We want to thank the governmental officials and other relevant parties who worked hard during this lengthy preparation and deliberative process. We would also like to thank our loyal shareholders who have been navigating this lengthy regulatory process with us. Without their support, none of our achievements would be possible.”
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully 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.
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com
