LANSING, Mich., June 16, 2015 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB:KBLB) (“Company”), the leading developer of spider silk based fibers, announces that after a series of meetings with Vietnam’s central and regional governments, the Company has signed a memorandum of understanding (MOU). This MOU outlines a framework for the creation and rearing of transgenic silkworms in Vietnam. Pursuant to the MOU, Kraig Labs and the Vietnamese provincial government will jointly develop a cooperative plan for the development and production of Kraig Labs trangenics in Vietnam.
“This MOU represents a breakthrough for Kraig Labs and potentially the silk industry. The Central and Provincial Government officials in Vietnam with whom we have held extensive meetings share our passion and vision for reinvigorating the silk industry. This new relationship should bring new opportunities for both the Company and Vietnam. The goal is commercialization of our disruptive technology for the technical textile markets,” said Company CEO Kim Thompson. “Vietnam offers specialized silk infrastructure which is ideal for expanding our operations. Vietnam’s tradition of quality silk production makes it an excellent fit for our transgenic silkworms. This cooperative effort will further serve to support our recombinant silk technology, its many applications and end markets.”
The Company is continuing to work with the provincial government to develop advanced research and development facilities in Vietnam, as well as pilot production of transgenic hybrids. Negotiations for a final agreement incorporating the terms of the MOU are expected to conclude in the third quarter of 2015.
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
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