LANSING, Mich., July 1, 2013 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB:KBLB) (the "Company"), the leading developer of advanced spider silk based fibers, today announced the end of the quiet period phase related to its recently filed S1 financing registration and a second potential financing that the Company has now terminated.
"We are very happy to be able to announce the end of this quiet period, and we want to thank our shareholders for their patience," said Company CEO and founder, Kim K Thompson. "Quiet periods during times when certain financings are being prepared are a normal part of the Company's regulatory compliance obligations. While it is wonderful to receive the underlying finance, the quiet periods themselves are an unwelcome, but necessary burden. Having successfully carried that burden, we are now very happy to set it down."
During the quiet period, the Company was unable, from its perspective, to effectively disseminate corporate information announcements and public relations announcements. The Company had come to terms with a New York based investment banking firm for a potential financing (in addition to the financing described in the recently filed S1) that would have necessitated a second S1 registration. The Company has determined however that the burden of an additional quiet period, or any further open ended extension of the quiet period, would be too counterproductive. The Company is looking forward to resuming more open communications with the financial markets and shareholders.
About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully 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.
CONTACT: Ben Hansel, Hansel Capital, LLC. (720) 288-8495 ir@KraigLabs.com
Source:Kraig Biocraft Laboratories, Inc