TIDMTEK
Tekcapital plc
22 March 2023
22 March 2023
Tekcapital Plc
("Tekcapital" or the "Group")
Portfolio Company Update: MicroSalt, Ltd. ("MicroSalt")
Operational Update
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual
property investment group focused on creating valuable products
that can improve people's lives, is pleased to provide an
operationalupdate from Microsalt Ltd ("Microsalt").
B2C Progress;
-- SaltMe Crisps continue to be sold throughout the Kroger
group. SaltMe Crisps are currently stocked in Kroger stores with
efforts continuing to secure new store placements.
-- As announced on 13 March 2023, Hanahreum Group ("H Mart"),
one of the fastest growing retailers in United States has agreed to
carry MicroSalt's SaltMe(R) branded crisps.
-- Since launching in September 2022, MicroSalt Shakers are
currently stocked in over 500 stores.
-- AS announced on 06 February 2023, MicroSalt is currently
working with US Salt LLC for in store sales of products across the
US Salt system. US Salt LLC is a leading direct supplier of
canister salt to the US retail industry.
E-commerce progress;
-- First e-commerce sales of MicroSalt Shakers have been encouraging.
-- E-commerce sales of SaltMe Crisps have also been increasing.
-- Microsalt is preparing to launch its fourth flavour in a 1 oz
size to compliment the current product offering and to create a
better variety pack.
Medical Outreach campaign progress;
-- Direct outreach with free 1 oz shakers samples for the medical community.
-- Launched direct marketing campaign for shakers in March 2023
in partnership with the National Pancreas Foundation which includes
access to approximately 100,000 medical professionals and 170
hospitals.
B2B progress:
-- Successfully completed comprehensive testing of Microsalt
with several major food companies. MicroSalt is at varying stages
of progress with these company's respective tasting, procurement,
marketing and packaging departments and will keep the market
informed of further developments.
About MicroSalt, Ltd
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 seasonings and 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 flavour 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 flavour consistency. MicroSalt(R) and SaltMe(R) are
registered trademarks of MicroSalt
Inc. To learn more about MicroSalt please visit www.microsaltinc.com .
To learn more about SaltMe! snacks please visit www.saltme.com
Tekcapital owns 97% of the share capital of MicroSalt Ltd. and
6,034,683 shares (78%) 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 +44 (0) 20 3470
and Broker) 0470
Richard Morrison / Charlie Bouverat (Corporate
Finance)
Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications
Tim Thompson/Andrea Seymour/Fergus Mellon +44 (0)207 129
microsalt@flagstaffcomms.com 1474
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 MicroSalt and/or Tekcapital 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 MicroSalt
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 MicroSalt or
Tekcapital may vary materially from those described explicitly or
implicitly in the relevant forward-looking statement. Neither
MicroSalt 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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