TIDMTEK
RNS Number : 1103R
Tekcapital plc
04 July 2022
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
4 July 2022
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Salarius, Ltd. ("Salarius")
First Bulk B2B Order of MicroSalt(R) in the U.S.
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual
property investment group focused on creating valuable products
from investing in university technology that can improve people's
lives, is pleased to announce that MicroSalt, Inc., the U.S.
operating subsidiary of Salarius, Ltd. has provided an update of
its commercial activities.
MicroSalt continues its rapid expansion in the low salt and
sodium markets and is pleased to announce that it has executed its
first bulk B2B MicroSalt order in the US.
Rick Guiney, MicroSalt's CEO said, "This large initial order is
a testament to the timeliness and flexibility of our products. Not
only are we able to provide a low sodium solution at scale, but we
also deliver a highly functional product that allows processors to
eliminate several internal procedures. Interest is also very high
for bulk B2B MicroSalt sales internationally.
"This progress follows on the heels of the expansion of
MicroSalt's SaltMe brand of low-sodium potato chips into over 3,000
retail stores nationwide in the U.S., up from 2,400 stores last
quarter. SaltMe chips were also featured on ABC News 4 Charleston
this month as part of a feature they ran entitled Good Healthy
Snacks . Additionally, we continue to see significant growth in
online sales of SaltMe chips and related social media
engagements.
"Our successful 2022 marketing efforts have included attendance
at seven industry trade shows year-to-date with four additional
events remaining this year, including an in-store sampling
partnership with Canada Dry(R) to highlight SaltMe Chips and the
new Canada Dry(R) flavored Ginger Ale.
We have also begun test marketing the first MicroSalt(R)
salt-shakers for food service, restaurants and retail sale. The
initial reception has been very positive and we will update the
market regarding the anticipated roll-out of this new product line
in the near-term.
The health issues surrounding the excess consumption of sodium
cannot be overstated and the ever-increasing profile of low salt
and sodium products serves not only as a launching pad for
MicroSalt but acts as a foundational tool in our fight to improve
the health and wellness of our family, friends, neighbors and
global customers".
Dr. Clifford Gross, Executive Chairman of Tekcapital plc said,
"Based on the rapid progress of MicroSalt and the global
opportunity to convert their patented, first-mover advantage into a
potentially significant position in the low-sodium salt market, we
are considering a listing of MicroSalt on the London market in
2023".
About MicroSalt
MicroSalt, is the developer and manufacturer of a proprietary
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 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. 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, with approximately 50% less
sodium consumption. Additionally, the ultra-small particle size
enhances product adhesion, which reduces waste and provides
improved flavor consistency. MicroSalt(R) and SaltMe(R) are
registered trademarks of MicroSalt Inc.
To learn more about MicroSalt please visit https://Salarius.co
/.
To learn more about SaltMe! snacks please visit
https://saltme.com/ .
Tekcapital owns 97.2% of the share capital of Salarius Ltd. and
73% of MicroSalt Inc. its U.S. subsidiary.
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed discoveries that can enhance people's lives
and provides a range of technology transfer services to help
organisations evaluate and commercialise new technologies.
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 Broker) +44 (0) 20 3470 0470
Richard Morrison / Charlie Bouverat (Corporate
Finance)
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.
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