EAST LANSING, Mich., March 24, 2009 (PRIME NEWSWIRE) –Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB) today announced that its Board of Directors has approved a stock dividend. The Board declared that shareholders of record as of the close of business on the record date will be issued nine additional shares for each share of Common Stock held.
“This stock dividend is intended to lay the groundwork for the growth of the Company,” said CEO Kim K. Thompson. “It is part of our ongoing efforts to improve trading liquidity, broaden ownership, promote capital investment and enhance shareholder value. This action is enabled by the Company’s continued success in the laboratory and is consistent with the Board’s commitment to take actions designed to create a wider distribution of the Company’s stock.”
The Board has directed the Company’s officers to confer with market oversight authorities and its transfer agents as soon as is practical to determine a record date.
Kraig is a biotechnology company working to develop and commercialize high performance polymers using spider silk gene sequences. The company hopes to tap into the $92 billion market for high performance and technical fibers. The Company works in cooperation with leading universities and university researchers. In 2007 Kraig Biocraft Laboratories signed an intellectual property and collaborative research agreement with the University of Notre Dame. Since that time the Company has been a proud sponsor of genetic research within the University.
For more information on Kraig Biocraft Laboratories, and to hear an audio interview with Kraig’s CEO, please visit the Company’s web site: www.KraigLabs.com
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included in this press release, other than statements of historical facts, address matters that the company reasonably expects, believes or anticipates will or may occur in the future. 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. Such statements are subject to various assumptions, risks and uncertainties. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those described in the forward-looking statements.
CONTACT: Kraig Biocraft Laboratories, Inc.
Kim K. Thompson, CEO