Portfolio Company Update

RNS Number : 5776W

Tekcapital plc

12 December 2019

 

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.

12 December 2019

Tekcapital Plc

("Tekcapital", the "Company" or "the Group")

Portfolio Company Update:

Salarius Secures National Food Ingredient Broker for MicroSalt® 

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, Accurate Ingredients, Inc. ("Accurate Ingredients") to market Microsalt® in the United States.

MicroSalt® 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.

The agreement with Accurate Ingredients compliments Salarius existing sales strategy which includes attendance at food trade shows and direct B2B customer outreach initiatives. As of today, over 20 new potential customers are in the process of testing and evaluating the applicability of Microsalt® on their products.

"We are very excited about our collaboration with Accurate Ingredients and working with their experienced and highly trained team to accelerate sales and to raise the profile on our value proposition. Salarius will be working with the Accurate Ingredient team in several geographic areas across the U.S." says Victor Hugo Manzanilla, CEO of Salarius.

Accurate Ingredients provides a network of experienced sales representatives residing across the United States with offices located on both the east and the west coast, who specialize in the sale of food ingredients. The portfolio of ingredients they sell are used in all segments of the food industry. Their broad range of ingredients can be found in dry, refrigerated and frozen foods.

"For over three decades, Accurate ingredients has been a primary resource for proven and reliable food ingredients, and we are pleased to be working with them" says Victor Hugo Manzanilla.

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 2021².

Dr Clifford Gross, Executive Chairman at Tekcapital, commented: "We are glad to see the expansion of Salarius' go to market effort to several important geographical markets in the United States with its first national food ingredient broker."

About Salarius ltd

Salarius, is the developer and manufacturer of a proprietary low sodium salt called MicroSalt®. 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		[phone]
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker)		[phone]
Richard Morrison/Charlie Bouverat (Corporate Finance)
Novum Securities Limited (Joint Broker)		[phone]
Colin Rowbury (Corporate Broking)

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' 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 may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Salarius neither 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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