MicroSalt Partnership with Weijohn Farms Group

Tekcapital plc

19 September 2023

 

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19 September 2023

Tekcapital Plc

("Tekcapital")

MicroSalt® Launches Partnership with Weijohn Farms Group

To Provide its Full Flavor Low-Sodium Salt

Tekcapital Plc (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives, is pleased to announce that its portfolio company Microsalt Ltd ("Microsalt") has announced a partnership with Weijohn Farms Group, a multi-faceted organization that includes Sorbatto Fresh and Washington Organic Hazelnuts. Weijohn Farms Group will be using MicroSalt on its Sorbatto Fresh line of hazelnuts.

"The integration of MicroSalt into our salted product lines has been beneficial on multiple fronts. Not only does it offer our consumers a low-sodium yet flavorful option, but from an operational standpoint, MicroSalt has proven its ability to improve product adherence and general housekeeping," said Jeff Weijohn, owner of the Weijohn Farms Group.

Sorbatto Fresh hazelnuts. Photo courtesy https://www.sorbattofresh.com/

Rick Guiney, CEO of MicroSalt®, commented:

"We are very excited about our partnership with the Weijohn Farms Group and their Sorbatto Fresh brand. Excess sodium consumption is one of the leading contributors to hypertension and heart disease.  Partnerships like this are the best way to provide consumers with great tasting, healthy products with less sodium."

Market Size

The North American hazelnut market was US$ 1.8 billion in 2022 and is projected to grow to US$ 3.2 billion by 2030 with a CAGR of 7.6%[1]. The expanding health benefits of eating hazelnuts are predicted to fuel substantial demand over the forecast period. Hazelnuts are regarded as a rich source of vitamins B, E, and K and are known for providing good lipids, proteins, and minerals. Furthermore, hazelnuts may help lower cholesterol levels. As a result, they are popular amongst health-conscious adults.

About Weijohn Farms Group & Sorbatto Fresh

The Weijohn Family has a rich farming history, spanning four generations in the Yakima Valley and has played an instrumental role in pioneering the hazelnut industry in Eastern Washington. Among other health benefits, hazelnuts contribute to increased oxidative capacity and reduced blood lipid levels, thereby helping to mitigate the risk of heart disease. Additionally, they are shown to help normalize blood pressure. To learn more about the Sorbatto Fresh brand please visit https://www.sorbattofresh.com/

About MicroSalt

MicroSalt is dedicated to innovating food technology solutions that enable people to live longer, healthier, and happier lives. Its patented low-sodium salt delivers natural salt with approximately 50% less sodium and may be used by both consumers and food manufacturers who wish to decrease the amount of sodium in their food. MicroSalt is 100% natural, non-GMO, gluten free, Kosher and contains no potassium chloride. To learn more about MicroSalt and MicroSalt® products, please visit www.microsalt.co.

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 and Broker)		[phone]
Richard Morrison / Charlie Bouverat (Corporate Finance) Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications Tim Thompson/Andrea Seymour/Fergus Mellon         [e-mail]		[phone]

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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[1] https://www.databridgemarketresearch.com/reports/north-america-hazelnut-market

 

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