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8-K - PRIMARY DOCUMENT - Kraig Biocraft Laboratories, Inc | kraig_form8-krevietnamerc.htm |
Kraig Biocraft Laboratories Granted Long Sought License for
Business Operations in Vietnam; Prepares for Grand
Opening
Issuance of License seen as the most significant commercial event
in the biotechnology Company’s development of spider silk
based materials
ANN
ARBOR, Mich., – May 1, 2018 –Kraig Biocraft
Laboratories, Inc. (OTCQB: KBLB) (“Company”), the
leading developer of spider silk based fibers, is very happy to
announce today the positive result of its five years of working
with the Vietnamese government at both the central and provincial
levels: The Company has been issued its long awaited Enterprise
Registration Certificate (ERC) required to begin its operations in
Vietnam.
“These
licenses to operate in a traditional silk producing region are the
most substantial milestones for Kraig Labs commercial development
since the creation of our first spider silk transgenics,”
said Kraig Labs Founder and CEO, Kim Thompson. “Our teams in
the U.S.A. and in Vietnam have been working closely with officials
in Quang Nam province and with central government ministries to
bring this long standing vision to reality.”
The
Company’s advanced silk production platform was designed
specifically to fit within and utilize existing silk industry
infrastructure. The Company’s systems were designed that way
in order to provide what the Company believes to be a significant
and nearly insurmountable competitive advantage. “Our work to
obtain these approvals has been driven by our goal of producing
recombinant spider silk on a large scale, which can only be
achieved by harnessing the opportunities presented by existing
large scale silk production infrastructure,” stated
Thompson.
The
Company has already proven through its contract with the U.S. Army
that its spider silk technology can be scaled quickly and
efficiently, moving from the laboratories of the University of
Notre Dame and into its own research and production facilities. We
are now on a path to scale our product to much greater levels, by
harnessing existing silk production infrastructure with the
capacity to match the demand for our spider silk
materials.
“Today’s
announcement is more than just a major milestone for the Company,
it’s a revolutionary step in the commercialization of spider
silk,” said Jon Rice, Kraig Labs’ COO. “More than
five years of hard work, meetings, and extensive legal and
regulatory paperwork, have gone into securing these approvals and
licenses. We now stand ready to change an entire
industry.”
“This
is a historic moment for Kraig Labs and for all of our shareholders
who have taken part in this journey with us. Our shareholders know
how much time, effort and resources have been expended to reach
this goal and for the Company to walk through this exciting
threshold,” Thompson concluded.
Today’s
announcement follows closely on the heels of last week’s
announcement of the formation of the Company’s Vietnamese
subsidiary Prodigy Textiles Co., Ltd., and the receipt of that
subsidiary’s Investment Registration Certificate (IRC).
Having been issued both its IRC and with today’s
announcement, its Enterprise Registration Certificate (ERC),
Prodigy Textiles Co., Ltd. is preparing to begin operation. The
issuance of these critical licenses mark a major milestone for
Kraig Biocraft Laboratories and the commercialization of spider
silk.
Kraig
considers its new wholly owned subsidiary, Prodigy Textiles Co.,
Ltd., to be its spider silk production arm. Vietnam has been the
focus of the Company’s efforts to launch commercial scale
production of recombinant spider silk, due to the country’s existing
silk production infrastructure. Kraig estimates that it can produce
its recombinant spider silk at prices similar to mundane silk,
giving the Company a tremendous competitive advantage.
The
Company is now preparing for the grand opening of its subsidiary
operations in Quang Nam province, Vietnam. Management is preparing
to hire staff for the new facilities and is prepping the first
allotment of transgenic silkworms to ship from its U.S. research
headquarters.
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.
Ben
Hansel, Hansel Capital, LLC
(720)
288-8495
ir@KraigLabs.com