Tekcapital plc MicroSalt partners with large USA Retailer (9845X)
May 02 2023 - 1:00AM
UK Regulatory
TIDMTEK
RNS Number : 9845X
Tekcapital plc
02 May 2023
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
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laws of England and Wales by virtue of the European Union
(Withdrawal) Act 2018 (as amended) and certain other enacting
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2 May 2023
Tekcapital Plc
("Tekcapital" or the "Group")
MicroSalt Inc. partners with a large, U.S. based national
retailer
to provide full-flavoured, low-sodium, private labelled
snacks
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual
property investment group focused on creating valuable products
that can improve people's lives, is pleased to provide a commercial
update from Microsalt Ltd ("Microsalt").
MicroSalt today announces a partnership with a Fortune 500
national retailer for the development and execution of low-sodium
solutions across the retailer's extensive line of private branded
snack offerings. This will lead to placement of several of their
snacks using MicroSalt(R) in lieu of traditional salt, beginning
with 800 stores by Q4 2023 and likely expanding across more than
7,000 store locations thereafter.
"We are proud to work with this leading retail chain in their
efforts to offer low-sodium solutions to their customers through
their private branded products. According to the World Health
Organization, excess sodium consumption is a leading contributor to
cardiovascular disease, and partnerships like this are a great way
to make a positive difference in global health." Said Rick Guiney,
CEO of MicroSalt.
This partnership is expected to have a significant impact on
both companies, including:
-- MicroSalt (R) and its leading retail partner being positioned
as leaders in the low-sodium retail initiatives.
-- Expanding their customer base around the globe with healthy, lower sodium alternatives.
About MicroSalt, Ltd
MicroSalt, is the developer and manufacturer of a proprietary
low-sodium salt called MicroSalt(R). We are passionate about
improving peoples' lives with better-for-you seasonings and 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 flavour 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(R) and SaltMe(R) are
registered trademarks of MicroSalt Inc. To learn more about
To learn more about MicroSalt(R) Inc. and MicroSalt(R) products,
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) +44 (0) 20 3470 0470
Richard Morrison / Charlie Bouverat (Corporate
Finance)
Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications
Tim Thompson/Andrea Seymour/Fergus Mellon
microsalt@flagstaffcomms.com +44 (0)207 129 1474
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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