TIDMTEK
RNS Number : 1977H
Tekcapital plc
02 December 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.
02 December 2020
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Salarius, Ltd.
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. has successfully launched its
innovative SaltMe!(R) snack line on Amazon in North America. The
company commenced sales of all four flavours on the e-commerce
platform offering 6 count boxes of 5oz size bags. In January, the
company plans to introduce 1 oz bags on the platform to expand
consumer purchase options.
Additionally, SaltMe!(R) potato chips are now available in all
Central Market stores in the USA and Canada.
SaltMe!(R) potato chips are made with MicroSalt(R), a
proprietary salt made with micron-size salt particles that
dissolves in the mouth significantly faster than regular salt, and
as a result, delivers 50% less sodium per serving. SaltMe!(R)
potato chips are Non-GMO, all Natural, Kosher and Gluten Free.
On the B2B front, FXM Ingredients Inc.the B2B sales and
marketing partner of Tekcapital in Mexico and Latin America has
provided MicroSalt(R) for testing to eight Mexican snack food
companies, including several of the largest producers in the
region, with a pipeline of 20 additional Mexican companies to begin
discussions in the next 60 days.
Additionally, a leading global snack food company has
successfully completed its initial evaluation of MicroSalt(R) and
has proceed to begin consumer testing for potential inclusion with
its products.
"We are very excited about the launch of the SaltMe!(R) brand on
Amazon. Growing our e-commerce business in addition to distribution
deals undertaken earlier in the year should help expand market
traction for our full flavour-low sodium snacks in 2021 and
beyond," says Victor Hugo Manzanilla, CEO of Microsalt Inc.
Market Dynamics
The online share of snack purchases has been steadily
increasing, propelled especially in 2020 during the coronavirus
pandemic. The category has also observed towards healthier,
reformulated offerings [1] . Transparency Market Research recently
stated, "Snack products have acquired a prominent place in the
households of a considerable populace across the globe due to the
COVID-19 lockdown implementations and the lockdown extensions. The
preference for 'indulgence-on-the-go' has increased due to the
work-from-home mechanism, thus inviting extensive growth prospects
for the snack products market."(2)
According to John Toaspern, Chief Marketing Officer for Potatoes
USA, "There was about a 22% increase in sales at retail for potato
chips for the period following the implementation of (COVID 19
related) restrictions in the U.S."(3)
Tekcapital owns 97.15% of the share capital of Salarius Ltd.
Microsalt Inc. is an 87% owned U.S. subsidiary of Salarius Ltd.
About Microsalt Inc.
Microsalt Inc is the developer and manufacturer of a proprietary
low-sodium salt called MicroSalt(R). We are passionate about
improving lives with healthier food and are taking the lead in the
industry by providing the best low-sodium salt solution. This
solution is the only one that delivers real salt flavour, because
it is salt. Our new 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. MicroSalt(R) and SaltMe(R) are registered trademarks
of Salarius Ltd., and exclusively licensed to Microsalt Inc.
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties (IP) 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 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)
Abigail Wayne / Rob Rees (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.
References
[1]
https://www.foodnavigator.com/Article/2020/10/21/European-Snacks-Association-chief-talks-future-trends-Health-is-front-and-centre-for-snacks-makers#
(2)
https://www.transparencymarketresearch.com/snack-products-market.html
(3)
https://spudman.com/article/potato-chip-industry-boosted-covid-driven-retail-boon/
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