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Kraig Biocraft Laboratories Confirms Selection of Jon Rice as a New Inside Director for its Board of Directors

ANN ARBOR, Mich.--(BUSINESS WIRE)--

Kraig Biocraft Laboratories, Inc. (KBLB) (“Company”), the leading developer of spider silk-based fibers, announces today that it has selected Jon Rice, the Company’s COO, to join its Board of Directors, as the Company advances and strengthens its corporate governance.

Rice has served as the COO of Kraig Biocraft Laboratories since 2015. In this role, Rice has overseen and led operations at the Company’s domestic research and development headquarters, as well as the recent breakthroughs in the scale up of its international production operations, through its subsidiary, Prodigy Textiles Co., Ltd. Prior to joining Kraig Labs, Rice served in a series of leadership roles developing and marketing advanced power systems, developed under contract with the US Department of Defense, which were successfully leveraged into commercial spinoff products. Rice blends technical and business operations expertise, holding a bachelor's degree in engineering and a master's in business administration.

“We are pleased to welcome Jon, with his first hand working knowledge and experience of implementing our operations, to the Kraig Labs board,” said Chairman and CEO Kim Thompson. “Jon’s role and understanding of our Company, from the inside, will serve as a crucial bridge between day-to-day operational management and board governance.”

The addition of Rice to the board will strengthen the overall skillset, perspective and experience necessary to support and drive growth for all of the Company’s stakeholders. Rice’s understanding of Kraig’s operations will provide a strong link to the board’s fiduciary oversight responsibilities.

Rice’s term is expected to begin this quarter.

Once formally seated, Rice, and the three recently announced new independent directors, will join Thompson to form the majority independent controlled board, which is intended to satisfy the uplisting requirement of a national exchange.

“I am excited for the opportunity to expand my service to Kraig Labs and our shareholders in this new role,” said Rice. “The advancement we are making in all aspects of our business model, from research to governance and commercialization, make this a fantastic time to be part of Kraig Labs and our exciting growth.”

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news.

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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