TIDMTEK
RNS Number : 0843O
Tekcapital plc
05 February 2021
5 February 2021
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Salarius, Ltd. Launches Equity
Crowdfund
Tekcapital Plc (AIM: TEK),(OTCQB: TEKCF), the UK intellectual
property investment group focused on creating valuable products
from investing in university technology, is pleased to announce
that portfolio company Salarius Ltd's subsidiary MicroSalt Inc. has
launched an equity crowdfund to raise up to US$750,000.
MicroSalt Inc. has launched the crowdfund via crowdfunding
platform microventures.com . US$188K has already been raised
to-date and their goal is to raise up to US$750,000 in the next 150
days at a pre-money valuation of US$5m, with a 10% early subscriber
discount for the first $100,000 invested. Proceeds will be used to
help fuel the company's growth and innovation strategy.
Victor Hugo Manzanilla, MicroSalt Inc CEO said: "I am extremely
excited and grateful for the support of more than 400 investors
that have already contributed to our recently launched crowdfund.
They are aligned with our vision to make great tasting,
better-for-you snacks with MicroSalt(R), with roughly half the
sodium compared with traditional potato chips."
Marketing Update
MicroSalt Inc. has also announced that is delivering
MicroSalt(R) to a newly on-boarded restaurant distributor, which
opens the food service market for the company. This distributor has
an initial order to sell MicroSalt(R) to an 18-location restaurant
chain, that will provide its customers with full-flavour,
low-sodium tortilla chips. There are approximately 59,000 Mexican
restaurants in the U.S..
Additionally, MicroSalt Inc. is expanding its SaltMe! products
by offering the 1oz small size package in both Original and
Barbecue flavour within the next two weeks. This will enable
SaltMe! to better compete on Amazon by making available the #1
selling potato chip package size.
To learn more about SaltMe! Please visit www.saltme.com .
About MicroSalt Inc.
MicroSalt Inc, is the developer and manufacturer of a patented,
low-sodium salt called MicroSalt(R). We are passionate about
improving peoples lives with better for you snacks by taking the
lead in the industry and providing the best low-sodium salt
solution, based on the mechanical transformation of the salt
particle itself. This solution is the only one to our knowledge
that delivers real salt (sodium chloride) flavour because it is
salt. Our new patented 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, resulting in approximately 50% less sodium consumption.
Additionally, the ultra-small particle size enhances product
adhesion, which reduces waste and provides improved flavour
consistency. MicroSalt(R) and SaltMe(R) are registered trademarks
of MicroSalt Inc. To learn more please visit
https://www.microsaltinc.com .
Tekcapital owns 97.2% of the share capital of Salarius Ltd. and
87.1% of its subsidiary, Microsalt, Inc.
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed discoveries and provides a range of technology
transfer 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 (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 Tekcapital that may constitute
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