TIDMTEK
RNS Number : 8560G
Tekcapital plc
01 April 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.
1 April 2022
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Salarius, Ltd. ("Salarius")
SaltMe! crisps now being sold at over 2,400 stores in the United
States
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 please to provide an update on MicroSalt , Inc., the U.S.
operating subsidiary of Salarius, Ltd.
The Company successfully completed roll-out of SaltMe! crisps to
Kroger Company, the United States largest supermarket by revenue.
The roll-out has been expanded from 1,800 stores to 2,200
stores.
Combined with other store locations, SaltMe! crisps are now
being sold in over 2,400 stores across United States.
The Company has been able to accomplish this remarkable retail
growth whilst also growing its ecommerce sales, with the Company
achieving significant sales growth through Amazon at the same
time.
Additionally, the Company announced that its SaltMe! potato
chips will be available to foodservice (catering) operators. This
major milestone is consistent with MicroSalt's mission to provide
healthier, full-flavor snacks that deliver 50% less sodium per
serving, to help promote cardiovascular health.
"We're thrilled to be able to expand the reach of our products,"
says Rick Guiney, CEO at MicroSalt Inc. "Our microscopic salt
crystal technology is creating new opportunities for consumers to
lower their sodium intake without sacrificing flavor. It makes
perfect sense for foodservice operators to offer this option to the
thousands of consumers they serve looking to live a healthier
lifestyle without sacrificing flavor."
MicroSalt is a subsidiary of portfolio company, Salarius.
MicroSalt aims to revolutionize the food industry with its patented
sodium microparticle, that delivers the full-flavour experience of
salt with roughly half the sodium. MicroSalt(R) is all-natural,
non-GMO, and Kosher.
About Salarius Ltd.
Salarius, 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
approximately 89% of the share capital 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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END
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