Salarius confirms store roll out

RNS Number : 2838H

Tekcapital plc

24 March 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 March 2020

Tekcapital Plc

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

Portfolio Company Update

Salarius confirms 71 store roll out for SaltMe!® sncks in May 2020

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., ("Salarius") has received an order from its distribution partner to  launch sales of its new SaltMe!® full flavour-low sodium snacks in 71 stores in May 2020.

This action represents an important milestone for SaltMe!® new low-sodium, full flavor potato crisp snack line, because thousands of customers will be able to rapidly find and buy the new chips.

"We are very excited to execute this program that will put this new and fantastic brand in front of thousands of consumers quickly. In a world where taste is everything, we feel optimistic that SaltMe!® snacks will engender strong loyalty and repurchase from our new customers." says Victor Hugo Manzanilla, CEO of Salarius.

The highly competitive global savory snacks market is expected to reach US$108 billion by 2021. SaltMe! Snacks with MicroSalt® is a better-for-you snack food whose time has come.

SaltMe!®   all natural potato crisps are made with MicroSalt^®, Salarius' proprietary salt 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. The snacks are Non-GMO, all Natural, Kosher and Gluten Free, without sacrificing the salty taste.

Market Information

The highly competitive global sweet and savory snacks market is expected to reach USD 219.6 billion in 2024¹.

Dr Clifford Gross, Executive Chairman at Tekcapital, commented: "We are very glad to see the initial distribution order and placement for Salarius' SaltMe!® crisps.."

Tekcapital owns 91.7% of the share capital of Salarius ltd. In February 2020,

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		Via Flagstaff IR
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)

Flagstaff Strategic and Investor Communications    [phone]

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.

Reference

¹ https://www.businesswire.com/news/home/20180621006194/en/Global-Sweet-Savory-Snacks-Market-Report-2018

 

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