ANN ARBOR, Mich.--(BUSINESS WIRE)--
Additional independent directors to help advance Kraig Labs’ business model
Kraig Biocraft Laboratories, Inc. (KBLB) (“Company”), the leading developer of spider silk based fibers, today announced that it has initiated the process of identifying qualified corporate leaders, to assist in the Company’s growth, as it plans to add two new independent corporate board directors.
“With the successful delivery of our proprietary spider silk technology to Prodigy Textiles, our Vietnamese subsidiary, we are now moving into the production phase of our business plan. We believe that this is the right moment to bring on additional expertise to support the Company’s efforts to bring spider silk to the performance textile markets. The addition of these new board members will assist our growth through this exciting transition to commercialization and help keep our focus on continuing to create shareholder value,” stated COO, Jon Rice.
Expanding the Board of Directors is an important advancement in Kraig Labs’ business model and is an important milestone for the Company as it contemplates uplisting to a larger exchange.
“We plan to conduct a careful search, to identify independent board members who can contribute expertise and crucial market experience, as we look to rapidly grow our capacity and expand our strategic market channel partner networks,” said CEO and Founder, Kim Thompson.
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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 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.