LANSING, MI, Feb. 13, 2013 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("Kraig") andSSM Industries, Inc. ("SSM") jointly announced today that they havesigned a memorandum of understanding ("MOU") to jointlycommercialize Kraig's Monster Silk™ recombinant spider silk. The purpose of the MOU is to develop a framework for cooperationbetween SSM and Kraig regarding spider silk commercialization andmarketing. The parties anticipate collaborating to develop knittedand woven textiles utilizing Monster Silk™ and possibly otherrecombinant spider silks, which have been developed by Kraig orwhich are in its development pipeline. The collaborative work would extend to product applications'development and marketing. Under the MOU the two companies wouldjointly develop select applications, for Monster Silk™ and otherrecombinant spider silks which have been developed by Kraig. Thisalliance is intended to support the market development for spidersilk based textiles. "SSM Industries, Inc. is an American company with a proven trackrecord of innovation and excellence in technical textiles andprotective apparel, so we are delighted to be working with them,"said Kraig CEO and founder, Kim Thompson. "Today's memorandum ofunderstanding allows us to work toward combining the capabilitiesof both companies in pursuing markets for knitted and wovenapplications of spider silk. "This MOU is a big step forward in moving our spider silkproducts from the laboratory and toward meeting the increasingdemand for innovative high strength materials, technical textilesand protective composites. I believe that it greatly acceleratesKraig's access to critical protective clothing and technicalmarkets. "This collaboration with a technical textile innovator marks amajor milestone toward bringing Kraig Biocraft Laboratories'genetically engineered spider silks to mainstream markets incommercial volume," concluded Thompson. "We are very happy to enter into co-operation between Kraig Labsand SSM Industries for developing the markets and productapplications for spider silks, especially in regard to life &limb protective gear, apparel and composites," said SSM spokesmanPhil Chandler.
"Both parties acknowledge the potential of working together todevelop and promote recombinant spider silk related textiles andproduct applications," continued Mr. Chandler. "I believe thesigning of the MOU between our companies marks a starting point forthe development of significant markets for spider silktechnologies. We are excited to be at the ground floor as we worktogether with Kraig to develop and grow this market segment. Thisnew relationship demonstrates SSM Industries commitment tounlocking markets and developing innovative solutions that benefitour world and satisfy global demand."The parties caution that while the MOU is a major step toward abinding agreement, it should not be relied upon as a guarantee thata binding agreement will be completed. Kraig Biocraft Laboratories is in discussions with othercompanies to complete a consortium to drive the penetration of itsrecombinant spider silks into global markets. About Kraig Biocraft Laboratories Kraig Biocraft Laboratories, Inc. ( www.KraigLabs.com) is a fullyreporting biotechnology company that has achieved a series ofscientific breakthroughs in the area of spider silk technology withimplications for the global textile industry. About SSM Industries SSM Industries Inc. ( www.Ssmind.com), based in Spring City, TN,is a full service safety and protective fabric manufacturer thatmanufactures flame resistant, cut resistant, and thermalfabrics. SSM has established itself as an innovator in technical textilesand performs in-house yarn spinning, knitting, weaving, dyeing andfinishing. The company produces products that are used by the U.S.military, the auto racing industry, firefighters, first responders,and industrial applications where materials with strength andprotective properties are required. Internal research anddevelopment and an in-house Military certified lab to test thefinished fabrics complement SSM's vast technical textilecapabilities. Cautionary Statement Regarding Forward Looking Information Statements in this press release about the Company's future andexpectations other than historical facts are "forward-lookingstatements." These statements are made on the basis of management'scurrent views and assumptions. As a result, there can be noassurance that management's expectations will necessarily come topass. These forward-looking statements generally can be identifiedby phrases such as "believes," "plans," "expects," "anticipates,""foresees," "estimated," "hopes," "develops," "researching,""research," "potential," "could" or other words or phrases ofsimilar import. Similarly, statements in this release that describethe Company's business strategy, outlook, objectives, plans,intentions or goals should all be considered forward-lookingstatements. All such forward-looking statements are subject tocertain risks and uncertainties that could cause actual results todiffer materially from those in forward-looking statements.Management cautions that its ability to further its research, andcreate commercially-viable products may be affected by thecompetitive environment, the Company's financial condition and itsability to raise sufficient capital to meet the financialobligations of its business plan and to fund its continuingoperations.
This press release does not constitute an offer to sell or thesolicitation of an offer to buy any security and shall notconstitute an offer, solicitation or sale of any securities in anyjurisdiction in which such offer, solicitation or sale would beunlawful prior to registration or qualification under thesecurities laws of such jurisdiction.
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