TIDMTEK
RNS Number : 7939A
Tekcapital plc
24 January 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.
24 January 2020
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update:
Salarius Secures Additional Food Ingredient Broker Partner for
MicroSalt(R)
Tekcapital Plc (AIM: TEK), the UK intellectual property (IP)
investment group focused on creating marketplace value from
investing in university technology, is very pleased to announce
that its 97.5 per cent. owned portfolio company, Salarius Ltd, has
secured an agreement with a national food ingredient broker, Hanks
Brokerage, to assist in the sale of Microsalt(R) to snack food
companies in the southwestern United States.
Hanks Brokerage, Inc. was founded in 1979 and recently
celebrated their 40th anniversary this past year for supplying
products and ingrediants to the food industry. Hanks Brokerage
represents ingredients and finished products to food manufacturers,
restaurant chains and food service distributors.
The agreement continues to build on an important dimension to
the Salarius sales strategy that includes attendance at food trade
shows such as Expo West, Supply Side West and the Texas IFT show,
working with "best in class" sales partners and an ongoing direct
B2B outreach. As of the date of this announcement, over 25
potential customers are in the process of testing and evaluating
applicability of Microsalt(R) for their snacks and other product
lines.
"We are very excited about our partnership with Hanks Brokerage
and working with their team of sales professionals to expand brand
awareness and accelerate sales of Microsalt(R). Our partnership is
a win-win-win as we are offering their customers a unique,
on-trend, innovative ingredient that will also help consumers lower
their sodium intake." says Victor Hugo Manzanilla, CEO of
Salarius.
"Hanks Brokerage is proud to partner with Salarius, to provide a
great solution to meet the challenges of sodium reduction in
formulations. We prefer adding product lines such as Microsalt(R)
to our partner listing because it provides a new and innovative
solution to a problem in the industry and because of the great team
behind the product. We look forward to growing with Salarius and
having a long-term partnership in the industry" says Greg Hanks,
President of Hanks Brokerage.
MicroSalt(R) is a proprietary salt made 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.
MicroSalt is Non-GMO, all Natural, Kosher and Gluten Free.
Market Information
The low sodium ingredient market is estimated to reach US$1.76
billion by 2025 with a CAGR 11.7%(1) . The highly competitive
global savory snacks market is expected to reach US$108 billion by
2021(2) .
Dr Clifford Gross, Executive Chairman at Tekcapital, commented:
"We are glad to see the expansion of Salarius' go to market effort
to additional geographical markets in the United States."
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.
References
(1)
https://www.futuremarketinsights.com/reports/sodium-reduction-ingredient-market
(2)
https://zmrindustryjournal.us/8402/savory-snacks-market-size-share-expanding-across-the-globe-by-2016-2024/
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contact rns@lseg.com or visit www.rns.com.
END
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