LANSING, Mich., April 15, 2009 (PRIME NEWSWIRE) –Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB) has declared a stock dividend. All 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. The record date is April 27, 2009.
“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 promote capital investment, broaden ownership, improve trading liquidity, 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 increase capital investment and create a wider distribution of the Company’s stock.”
The declaration of the stock dividend follows the announcement over the last several months of significant increases in laboratory productivity. The Company believes these dramatic increases in productivity are the direct result of the Company’s successful efforts to recruit highly talented scientists and researchers in 2008. “Ultimate credit for the increased pace of work in the laboratory belongs to Dr. Fraser and the University of Notre Dame research team,” said Kim Thompson.
Kraig is a biotechnology company developing advanced materials and high performance polymers. The Company believes that these materials have the potential to make a significant impact on the $92 billion market for high performance and technical fibers. The Company works in cooperation with leading universities and university researchers, and virtually all of the scientific research is conducted within university laboratories. 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