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Kraig Biocraft Laboratories Secures Bridge Funding and Files to Become Fully Reporting Company

ANN ARBOR, Mich., – December 11, 2020 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company” or “Kraig Labs”), announced today that it has secured $950,000 in bridge financing and simultaneously filed with the SEC to become a mandatory, fully reporting company. 

“While being a voluntary filer, Kraig has been committed to meeting all SEC filing and reporting standards.  Our election to now formalize these reporting responsibilities is evidence of our commitment to full operational transparency and growth,” said CEO and Founder, Kim Thompson.  “The bridge financing will be used to continue scaling up our recombinant spider silk production and for other purposes related to the near term implementation of our business plan.”

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About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully reporting biotechnology company, is a developer of genetically engineered spider silk based fiber technologies.

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. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

Ben Hansel, Hansel Capital, LLC

(720) 288-8495

ir@KraigLabs.com

Leading Experts

Company Founder and Chief Executive Officer: Kim K. Thompson

Mr. Thompson received his B.A. in Applied Economics from James Madison College at Michigan State University. He received his Juris Doctorate from the University of Michigan Law School.

Kim Thompson invented the spider silk production platform and founded Kraig Biocraft Laboratories in his pursuit of the development of new biotechnologies with industrial applications.  The Company was founded to develop this spider silk technology and reduce it to practice in collaboration with leading university scientists.

Mr. Thompson brings a wealth of experience in business management and consultation to Kraig. Following the completion of his undergraduate degree, Mr. Thompson joined California Craftsman, Inc. as a Vice-President with primary responsibility for both financial operations and marketing.

Kim Thompson was the director of business development at Franchise Venture Partners, LLC. He subsequently joined the firm of Shearson, Lehman, Hutton where he specialized in equity trading and research of small-cap companies. His experience in those small-cap equity markets has proven to be invaluable both in his legal and business successes.

Prior to founding Kraig, Mr. Thompson was the founder and senior litigation partner in a successful California commercial law firm where he worked as corporate and litigation counsel to privately held and public companies. His many accomplishments in corporate law include winning and collecting in full what his firm believes to have been the largest award of lost profits in a California commercial arbitration up to that time. An important part of his work was winning victories on behalf of corporate clients in disputes over intellectual property and distribution rights. He has represented business clients ranging from small start-ups and micro-caps to Fortune 100 companies.

With a background in business leadership and in advising public and private corporations, Kim Thompson continues to bring a unique perspective to the successful management of the Company. His extensive business and legal background enables him to create practical solutions to business problems and seize opportunities for growth.

Mr. Thompson is a member of the Triple Nine Society for persons with documented genius level IQs (having tested above the 99.9th percentile). He is active in the realm of science and invention where he has to his credit a number of provisional patent applications, including innovations in the areas of biotechnology, organic polymers, genetic engineering and magnetic field manipulation, among others.

Chief Operations Officer: Jon R. Rice

Mr. Rice has over 13 years’ experience growing development stage businesses with a focus on technology development, commercialization, and go to market strategies.  Mr. Rice holds a B.S. in Chemical engineering from Michigan Technological University and a Masters of Business Administration from the Eli Broad College of Business: Michigan State University.

Prior to joining Kraig Biocraft Laboratories Mr. Rice was the Director of Advanced Technologies for Ultra Electronics, AMI.  In this role, Mr. Rice was responsible for the identification, capture, and execution of new technology programs.  During his tenure with AMI, Rice secured more than twenty five million dollars in funded development programs from the US Department of Defense which his team successfully leveraged into commercially viable spinoff products.  Mr. Rice was also responsible for technical sales, marketing, and promotion of AMI’s products and capabilities.   Rice joined AMI as the third full time employee and helped to lead the organization through its rapid growth and ultimate acquisition by Ultra Electronics in 2011.

Earlier in his career Mr. Rice developed unique advanced manufacturing techniques, established and trained a production staff, led engineering development, authored numerous technical papers, and is a recognized subject matter expert.  Mr. Rice holds 5 issued patents and numerous provisional patents.

Mr. Rice brings a history of transforming revolutionary ideas into viable commercial products.

Kraig Biocraft Laboratories Mission Statement

Kraig Biocraft Laboratories is an innovative biotechnology company that is applying cutting edge technology to the creation and development of high-performance fibers. A primary focus of our work is the development and commercialization of genetically engineered recombinant spider silk. The Company believes that this technology is revolutionary in terms of its potential to impact the markets for industrial, consumer and military materials. Our work is based on proprietary genetic engineering technology and a model of environmental sustainability. Combining human ingenuity with the bounty of nature will help to expand the realms of high-tech with never before seen materials. Accordingly, our mission consists of 3 unified parts:

Technological Mission:

To develop and commercialize new types of protein-based fibers that will improve consumer, industrial and defense industry product lines, as well as craft entirely new product possibilities. Our first and second generation spider silk technologies, which we call Monster Silk™ and Dragon Silk™, respectively, have been in pilot production and are moving toward commercial scale production. Initial target markets include the apparel markets, while our future vision for our silks includes industrial uses and lifesaving technologies, ranging from anti-ballistic applications to medical breakthroughs. To materialize our vision, we must strive for the highest possible quality in our products and ensure that our research arm remains focused on continuing our history of laboratory breakthroughs.

Social Mission:

To remain focused on improving our world; the original motivation for pursuing the creation of transgenic recombinant spider silk and founding the Company. We view ourselves as partners with our environment, as well as responsible guardians of our natural resources, and, by working with nature, we believe that we can replace toxic technologies that hurt our environment with natural and ethical production methods that also yield improved materials.

Financial Mission:

To maximize shareholder and enterprise value. There are three key focus areas to achieving our financial mission:

1) Moving our Monster Silk™ and Dragon Silk™ (recombinant spider silk) technology into commercial scale production and commercialization;

2) Become a globally recognized brand name by capitalizing on the vast interest in spider silk technologies, and;

3) Continue to develop new advanced spider silk based fibers which can capture larger and larger portions of the technical textile market.

We will continue to advance the Company’s spider silk vanguard position, by focusing on our biotech engineering core competencies. We will be the providers of material science products and strategies that deliver long term commercial benefits, based upon our clients’ needs. We have confidence that as we deliver on all dimensions of our viable mission plan and seize market opportunities, we will enjoy the kind of success that is reflected in enterprise value.

Kraig Labs believes that the most powerful fibers and polymers on earth can also be the cleanest and by valuing Kraig’s three mission segments we will build on our short and long term successes. We know that we can advance our objectives by supporting inquisitive, skilled, and caring young people (and some who are not so young) who share our vision to help create a better world. We can do that through sustainable technologies, as well as serving as an important gathering point for innovative and creative minds.