Kraig Biocraft Laboratories Subsidiary Prodigy Textiles Signs Agreements for Mulberry Production

Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading
developer of spider silk based fibers announces today that its
subsidiary, Prodigy Textiles, has signed three agreements with local
farming cooperatives in Quang Nam province, Vietnam. Under these
agreements the farmers will produce the mulberry necessary to support
the Company’s recombinant spider silk production.

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Kraig Labs subsidiary, Prodigy Textiles, signs agreement with local farmers for mulberry needed at its new spider silk production facility (Photo: Business Wire)

This collaboration with local farmers is a key element of Kraig Labs
commercialization strategy, integrating advancements in high tech
agriculture and a diverse supply base with the Company’s ground breaking
spider silk production technology.

“The strength of our approach in creating cost effective and
commerciality scalable spider silk has always been based on the use of
the existing silk infrastructure,” said Jon Rice, COO. “Today’s
announcement, that we are developing collaborative relationships with
these farming cooperatives, is a perfect example of that strategy put
into action. These efforts will provide us with sufficient mulberry to
meet our production expansion plans for the next several years. In the
coming months we expect to expand this model of collaboration by
incorporating efforts with downstream processors such as reeling and
thread finishing.”

Prodigy Textiles Co. Ltd. signed three memorandums of understanding with
independent farming cooperatives at a signing ceremony held at its
recently announced new facility in Quang Nam province.

The Company wishes to offer special thanks to its team of consultants
who have put in considerable effort to assist us on this endeavor.
Leading this project was Mr. Kenneth Le, whose dedication,
resourcefulness, and business acumen has been instrumental in our
ability to conduct business on the other side of the globe. Mr. Le has
played a critical role in supporting scaling up the Company’s spider
silk technology beyond the laboratory and with eyes towards the global
textile markets.

“Mr. Le has demonstrated an incredible dedication to advancing this
technology,” said CEO and Founder Kim Thompson. “He has been generous
with his time while proving unmatched knowledge of international
business and an ability to conduct business in Southeast Asia. Beyond
the Company’s appreciation, I would like to personally thank Ken for his
sage advice, his honesty, and his guidance throughout this process.
Together, we continue to break new ground in the commercialization of
spider silk.”

To view the most recent edition of Kraig’s Spider Sense newsletter
and/or to sign up for Company alerts, please go to www.KraigLabs.com/newsletter.

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com),
a 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005237/en/

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