Salarius First U.S.A. Bulk B2B Order

RNS Number : 1103R

Tekcapital plc

04 July 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.

4 July 2022

Tekcapital Plc

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

Portfolio Company Update: Salarius, Ltd. ("Salarius")

First Bulk B2B Order of MicroSalt® in the U.S.

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 pleased to announce that MicroSalt, Inc., the U.S. operating subsidiary of Salarius, Ltd. has provided an update of its commercial activities.

MicroSalt continues its rapid expansion in the low salt and sodium markets and is pleased to announce that it has executed its first bulk B2B MicroSalt order in the US.

Rick Guiney, MicroSalt's CEO said, "This large initial order is a testament to the timeliness and flexibility of our products. Not only are we able to provide a low sodium solution at scale, but we also deliver a highly functional product that allows processors to eliminate several internal procedures. Interest is also very high for bulk B2B MicroSalt sales internationally.

"This progress follows on the heels of the expansion of MicroSalt's SaltMe brand of low-sodium potato chips into over 3,000 retail stores nationwide in the U.S., up from 2,400 stores last quarter. SaltMe chips were also featured on ABC News 4 Charleston this month as part of a feature they ran entitled Good Healthy Snacks . Additionally, we continue to see significant growth in online sales of SaltMe chips and related social media engagements.

"Our successful 2022 marketing efforts have included attendance at seven industry trade shows year-to-date with four additional events remaining this year, including an in-store sampling partnership with Canada Dry® to highlight SaltMe Chips and the new Canada Dry® flavored Ginger Ale.

We have also begun test marketing the first MicroSalt® salt-shakers for food service, restaurants and retail sale. The initial reception has been very positive and we will update the market regarding the anticipated roll-out of this new product line in the near-term.

The health issues surrounding the excess consumption of sodium cannot be overstated and the ever-increasing profile of low salt and sodium products serves not only as a launching pad for MicroSalt but acts as a foundational tool in our fight to improve the health and wellness of our family, friends, neighbors and global customers".

Dr. Clifford Gross, Executive Chairman of Tekcapital plc said, "Based on the rapid progress of MicroSalt and the global opportunity to convert their patented, first-mover advantage into a potentially significant position in the low-sodium salt market, we are considering a listing of MicroSalt on the London market in 2023".

About MicroSalt

MicroSalt, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. 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® and SaltMe® 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 73% 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)		[phone]
Richard Morrison / Charlie Bouverat (Corporate Finance) Rob Rees (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.

 

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