Portfolio Company Update MicroSalt plc

Tekcapital plc

31 July 2024

 

31 July 2024

Tekcapital Plc

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

MicroSalt® Portfolio Company Update

Loblaws Supermarkets onboards MicroSalt® shakers

& LeBeau Excel Appointed as Canadian Food Broker

Tekcapital Plc (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives, is delighted to announce that MicroSalt® plc ("Microsalt") a leading provider of full-flavour, natural salt with approximately 50% less sodium, has announced the expansion of its retail distribution with the new placement of saltshakers in Loblaws, one of Canada's oldest and largest supermarket retailers which operates over 2,400 stores across Canada.

This new distribution is for both the 2oz and 6oz saltshakers. The product is expected in stores in September/October 2024.

MicroSalt has also announced it has retained LeBeau Excel sales and marketing brokerage, a leading food broker in the Canadian natural and organic industry, to support and further expand sales within the Canadian market.

Image courtesy of MicroSalt plc

Rick Guiney, CEO of MicroSalt, said:

"We are extremely excited about the placement of MicroSalt® shakers in Loblaws.  Loblaws is one of the largest supermarket chains in Canada and a prominent fixture in the Canadian food landscape. United Natural Foods will be the distribution partner to support the Loblaws placement. Additionally, we are enthusiastic to partner with LeBeau Excel to expand our business, across all customer channels in Canada."

About Loblaws

The company is known for its innovative private label products such as No Name® and President's Choice®, which offer high-quality goods at competitive prices. In addition to groceries, Loblaw's parent company also own's Shoppers Drug Mart, offering pharmaceuticals and health services, further cementing its position as a comprehensive retail giant in Canada. To learn more about Loblaws please visit https://www.loblaws.ca/.

About MicroSalt plc

MicroSalt®, is the developer and manufacturer of a leading proprietary low-sodium salt called MicroSalt®. We are passionate about improving peoples' lives with better-for-you seasonings and snacks by providing the best low-sodium salt solution, based on the mechanical transformation of the salt particle itself. MicroSalt® has patents issued in the U.S. and pending applications in China, Chile, Australia, Brazil, Europe, Canada, Japan, Russia, Mexico, India and Hong Kong. MicroSalt® and SaltMe® are registered trademarks of MicroSalt Inc. For more information, please visit www.microsaltinc.co.

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.

Tekcapital owns 33,305,749 shares of MicroSalt plc.

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 MicroSalt 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's 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.

 

END