TIDMTEK
RNS Number : 9137E
Tekcapital plc
04 March 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
4 March 2020
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update
Salarius Secures Premier Contract Sales Partner for SaltMe!(R)
Snacks
Tekcapital Plc (AIM: TEK), the UK intellectual property
investment group focused on creating marketplace value from
investing in university technology, is very pleased to announce
that portfolio company Salarius ltd., ("Salarius") has signed an
agreement with iLevel Brands Inc ("iLevel Brands") as part of its
launch of North American sales of its new SaltMe!(R) full
flavour-low sodium snack line.
This agreement, combined with their previously announced
distribution agreement on 2 March 2020, will expand Salarius'
market penetration and brand awareness for its new potato chip
snack line with retail brand placements across the entire East
Coast, Midwest and Southwest geographic areas of the United
States.
"iLevel Brands is proud to partner with Salarius. They have
created a groundbreaking and innovative solution to the challenges
of sodium reduction in formulations. We prefer representing brands
like SaltMe!(R) because they have created a new and innovative
solution to an important problem in the industry and their growth
potential is unlimited. We look forward to growing with Salarius
and having a long-term partnership in the natural products industry
" said David Abrahams, CEO of iLevel Brands.
"We are very excited about our alliance with iLevel Brands which
will enable us to present our new innovative brand SaltMe!(R) full
flavor- low sodium snacks to numerous distributors and retailers in
an accelerated time frame." says Victor Hugo Manzanilla, CEO of
Salarius.
SaltMe!(R) all natural potato crisps are made with MicroSalt(R)
, Salarius' proprietary salt with micron-size salt particles that
dissolve in the mouth significantly faster than regular salt,
delivering an increased sensation of saltiness with much less salt,
and as a result approximately 50% less sodium. The snacks are
Non-GMO, all Natural, Kosher and Gluten Free, without sacrificing
the salty taste.
Market Information
The highly competitive global sweet and savory snacks market is
expected to reach USD 219.6 billion in 2024(1) .
Dr Clifford Gross, Executive Chairman at Tekcapital, commented:
"We are very glad to see that Salarius has signed an agreement with
iLevel Brands Inc, a premier natural food broker for its SaltMe!(R)
crisps. This agreement should enhance market penetration and
accelerate sales growth for the SaltMe!(R) product line in the
second half of 2020."
Tekcapital owns 91.7% of the share capital of Salarius ltd. In
February 2020, Salarius executives exercised stock options
resulting in Tekcapital's ownership being reduced from 97.5% to
91.7%.
About Salarius ltd
Salarius, is the developer and manufacturer of a proprietary low
sodium salt called MicroSalt(R). Salarius is passionate about
improving lives with healthier food and is taking the lead in the
industry by providing the best low-sodium salt solution, based on
the mechanical transformation of the salt particle itself. This
solution is the only one that delivers real salt flavor, because it
is salt. The technology produces salt crystals that are
approximately one hundred times smaller than typical table salt,
delivering a powerful saltiness as the micro-grains dissolve in the
mouth, with approximately 50% less sodium consumption.
Additionally, the ultra-small particle size enhances product
adhesion, which reduces waste and provides enhanced flavor
consistency. To learn more please visit https://salarius.co/ .
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc Via Flagstaff IR
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated
Adviser and Joint Broker) +44 (0) 20 3470 0470
Richard Morrison / Charlie Bouverat (Corporate
Finance)
Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9427
Colin Rowbury (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0)207 129
1474
Tim Thompson/Andrea Seymour/Fergus Mellon
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Salarius that may constitute forward-looking
statements. These statements may be identified by words such as
"expect," "look forward to," "anticipate" "intend," "plan,"
"believe," "seek," "estimate," "will," "project" or words of
similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Salarius' and/or
Tekcapital's management. Please note that these are subject to a
number of risks, uncertainties and factors, including, but not
limited to those described in various disclosures. Should one or
more of these risks or uncertainties materialize, or should
underlying expectations not occur or assumptions prove incorrect,
actual results, performance or achievements of Salarius or
Tekcapital may vary materially from those described explicitly or
implicitly in the relevant forward-looking statement. Neither
Salarius nor Tekcapital intends, nor assumes any obligation, to
update or revise these forward-looking statements in light of
developments which differ from those anticipated.
Reference
(1)
https://www.businesswire.com/news/home/20180621006194/en/Global-Sweet-Savory-Snacks-Market-Report-2018
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END
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