TIDMTEK
RNS Number : 9375Z
Tekcapital plc
24 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.
24 September 2020
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Salarius, Ltd.
Salarius Partners with FXM Ingredients Inc. to Distribute
MicroSalt (R) in Mexico
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 portfolio company, Salarius Ltd., has signed a partnership
agreement with FXM to lead B2B sales and marketing of MicroSalt (R)
in Mexico and Latin America ("LATAM").
FXM provides the highest quality food ingredients to companies
worldwide. FXM provides integral solutions including logistics and
technical consulting on the development and innovation of products.
They are experts on market trends for the food industry in Mexico
and Latin America.
This partnership marks the first time that MicroSalt (R) will be
sold outside the United States. The strategic sales plan includes
securing meetings with the top snack food manufacturers, flavor
houses, contract manufacturers and other food companies looking for
full flavor, low sodium alternatives, along with attendance at food
trade shows such as the Food Technology Summit and Expo in Mexico
City.
"FXM is thrilled to enter into a strategic partnership with
Salarius. We are excited to introduce MicroSalt(R) as a solution in
our portfolio for the new Mexican labeling concerning the reduction
of sodium content. Integrating Salarius into our family of world
class manufacturing partners is complimentary to the FXM business
model and is in alignment with our strategic vision for growth."
says Gilberto Olvera Hernández, CEO of FXM.
"We are looking forward to working with FXM to bring the full
flavor-low sodium benefits of MicroSalt(R) to Mexican consumers to
help lower their sodium intake. Our collaboration with FXM will
introduce MicroSalt to food companies in Mexico and LATAM that
could benefit most from our ground-breaking, on-trend and
innovative ingredient," says Victor Hugo Manzanilla, CEO of
Salarius.
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.
The Market
In Mexico, 2020 revenue in the snack food segment is projected
to be US$5.68 billion. The Mexican market is expected to grow
annually by 9.1% (CAGR 2020-2025(1) . The Mexican Ministries of
Health recently passed a new law on 27 March 2020 mandating a new
front of packaging labeling (FOPL) system for all packaged food.
Under NOM-051, products that exceed 350mg of sodium per 100g of
product, will need to prominently display the warning, Exceso de
Sodio ("Excess Sodium")(2) .
About FXM Ingredients Inc.
Since 1988, FXM Ingredients has been recognized for supplying
the highest quality food ingredients that comply with international
standards and regulations, manufactured by world leading companies
in their field, which we represent exclusively. We offer integral
solutions through professional technical assistance in the
development and innovation of products, adding a wide knowledge of
the global and regional trends for the food industry. At FXM
Ingredients, we are committed to always satisfy our customers'
highest expectations, adding value with our services and product
portfolio. For more information please contact: info@fxm.com.mx or
visit www.fxm.com.mx
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
Tekcapital owns 91.7% of the share capital of Salarius Ltd.
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 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.statista.com/outlook/40110000/116/snack-food/mexico
2-
https://www.bakeryandsnacks.com/Article/2020/04/03/Mexican-nutrition-labelling-law-gets-green-light#
MicroSalt(R) and SaltMe(R) are registered trademarks of Salarius
ltd.
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END
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