ANN ARBOR, Mich., April 14, 2022 (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 has received another $1.5 million from YAII PN, Ltd (“YAII”) a fund managed by Yorkville Advisors Global, LP (“Yorkville”). The $1.5 million received this week is the second half of a $3 million fund agreement signed with YAII in January 2022. This $3 million and those from the previously announced transactions account for an $8 million total YAII investment into Kraig Labs over the past 16 months.
The Company is well underway, putting this impact capital to work, strengthening its production operations. Over the last nine months, the Company has deployed capital to build additional production capacity and bring key onsite quality control systems online. These renovations …
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