TIDMTEK
RNS Number : 0971Z
Tekcapital plc
16 September 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.
16 September 2020
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Salarius Ltd.
Salarius partners with leading national food ingredient
distributor for MicroSalt (R)
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 signed a distribution
agreement with Gehring-Montgomery Inc, ("Gehring-Montgomery") a
leading national ingredient distributor to expand B2B sales of
Microsalt(R) across the United States.
Gehring-Montgomery is a leading distributor of food and raw
materials for commercial and industrial manufacturers in the food,
automotive, coatings, adhesives, pharmaceutical, and personal care
industries across North America. They pride themselves on their
ability to distribute quality products, provide strong logistical
support, maintain an excellent customer satisfaction record, and
react quickly to customer requirements.
This partnership adds another dimension to the MicroSalt
strategic sales plan that includes, working with "best in class"
sales partners to increase revenue and brand awareness, an
aggressive B2B outreach initiative to source new customers,
attendance at food trade shows such as Expo West and Supply Side
West (COVID-19 permitting), as well as securing customer
opportunities outside of the United States.
"We are extremely energized about our partnership with
Gehring-Montgomery and working closely with their team of sales
experts to increase 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.
"Our partnership with Salarius complements our overall U.S.
strategy offering, providing a highly innovative specialty, such as
"Microsalt", a cutting-edge ingredient, allowing consumers to lower
their sodium intake yet maintain the product's full flavor. This
meets the challenges of the general public's demand for
ground-breaking, healthy alternatives that result in sodium
reduction formulation," says Mark Bitting, President and Managing
Director of Gehring Montgomery.
MicroSalt(R) is a proprietary, patented 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.
With the highly competitive global savory snacks market being
expected to reach US$108 billion by 2021(1) , and the low sodium
ingredient market estimated to reach US$1.76 billion by 2025 with a
CAGR 11.7%(2) , MicroSalt(R) is a food ingredient whose time has
come.
About Salarius
Salarius, 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, 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 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 Gehring-Montgomery Inc
Gehring Montgomery, a leading distributor of food and feed raw
materials and a division of German-based TER Group, was founded in
1984, supplying customers with food ingredients and specialty
chemicals throughout North America. Located in Warminster,
Pennsylvania, Gehring Montgomery continues its long history of
being the distributor of choice to many companies in the United
States. To learn more please visit
https://www.gehring-montgomery.com/ .
Tekcapital owns 91.7% of Salarius Ltd.
For further information, please contact:
Tekcapital Plc Via Flagstaff
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)
Abigail Wayne / Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0) 20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
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
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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END
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