Kraig Biocraft Laboratories and MtheMovement by Kings Group sign Exclusive Purchase and Sales Agreement for up to potentially $40 million

Financial world news, market analysis, investment scam prevention tips and more ✔️ Learn all there is to know about the asset management industry. This magazine is crafted specifically for those who are interested in diving into the global asset management world. ANN ARBOR, Mich., Jan. 26, 2021 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company” or “Kraig Labs”), the biotechnology company focused on the development and commercialization of spider silk, announces that it is forming a joint venture partnership with MtheMovement, an eco-friendly luxury streetwear apparel line, part of the Kings Group of Companies and its affiliated companies (“Kings Group”). The joint venture will develop and sell Kraig Labs’ spider silk fibers under the new innovative apparel and fashion brand, trade named SpydaSilk™ and potential other trademarks to be announced. All intellectual property related to SpydaSilk™ will be jointly owned by Kraig Labs and Kings Group. The deal combines Kraig Labs’ industry leading fibers with Kings Group’s business skills and regional enterprise expertise, creating what we believe will be a strong vertical integration for both companies. Under the terms of this agreement, Kraig Labs granted the joint venture and the SpydaSilk brand an exclusive geographic license to all Kraig Lab technologies for the ASEAN region, in exchange for a 4 year firm commitment to purchase up to $32 million, with an additional projected purchase of $8 million, of Kraig Labs’ raw recombinant spider silk, with an initial payment of To keep reading about Kraig Biocraft Laboratories and MtheMovement by Kings Group sign Exclusive Purchase and Sales Agreement for up to potentially $40 million, Click on the link. Seoul, Korea
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