LANSING, MI, April 3, 2012 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB.PK) (the "Company" or "Kraig") announces that the Company signed a lease on a new laboratory and is in the process of expanding its operations into the new facility.
The new laboratory's near-term priorities include housing the Company's expanding technical textiles research and development program and accelerating the ramp up of its monster silk product toward industrial scale production.
"We are currently in the process of moving into the laboratory and expanding our research and development capabilities," said Company founder and CEO, Kim K Thompson, following the conference call. "This is a real milestone event for the Company. Up until now, all of our research has been conducted within university laboratories. The Company has grown and developed to the point where we are excited to seize this opportunity and expand into a state of the art research center. We see the new laboratory as providing the opportunity for a significant expansion of our capabilities."
Thompson announced the new laboratory, and provided additional updates, during a shareholder conference call on Friday, March 30, 2012, after the markets closed.
A recorded copy of the conference call, as well as the transcript, will be available later today on the Company website, www.KraigLabs.com.
About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com) is a fully reporting biotechnology company that has achieved a series of scientific breakthroughs 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," "develops," "researching," "research," "potential," "could" or other words or phrases of similar import. Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals should all be considered forward-looking statements. 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. Management cautions that its ability to further its research, and create commercially-viable products may be affected by the competitive environment, the Company's financial condition and its ability to raise sufficient capital to meet the financial obligations of its business plan and to fund its continuing operations.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.