LANSING, Mich., April 6, 2009 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCBB:KBLB) today confirmed that it has instructed its attorneys to confer with the market oversight authority FINRA in order to obtain clearance to announce the record date for its stock dividend. The Company's Board of Directors previously announced 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.
"We will keep our shareholders informed both through our website, www.KraigLabs.com and through public press releases," said CEO Kim Thompson. "When we receive clearance from FINRA for the record date we will make that announcement on the investor relations page of the Company's website."
Kraig is a biotechnology company working to develop and commercialize high performance polymers using spider silk gene sequences. 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. Management believes that these high performance polymers can make significant inroads into the multi billion dollar market for high performance and technical fibers.
For more information on Kraig Biocraft Laboratories please visit the Company's web site: www.KraigLabs.com
The Kraig Biocraft Laboratories, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4817
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.