TIDMTEK
Tekcapital plc
06 February 2023
6 February 2023
Tekcapital Plc
("Tekcapital" or the "Group")
Portfolio Company Update: MicroSalt, Ltd. ("MicroSalt")
US Salt LLC forms strategic partnership with MicroSalt to
provide
full-flavour, low-sodium salt in bulk, take-home shakers
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 announce that
MicroSalt has entered into an agreement with US Salt LLC ("US
Salt") for the distribution and delivery of MicroSalt's low-sodium
solutions.
"We are proud to work with US Salt in their efforts to offer
low-sodium solutions to their customer base. US Salt as a leader in
salt distribution, offering lower sodium as an active option in its
ingredient listing. Excess sodium intake is one of the world's
leading health concerns, and we believe that partnerships like this
are a great way to expand our efforts to address the sodium
reduction challenge." Said Rick Guiney, CEO of MicroSalt"
"US Salt is looking forward to working with MicroSalt(R) to help
with our low-sodium initiatives. Sodium is a worldwide concern in
the food industry, and we believe Rick and his team are the
industry leaders that can help propel our future growth." Said Bob
Jordan, Vice President of Sales & Marketing of US Salt LLC.
This partnership is expected to strengthen each companies'
respective market positions as leaders in the sodium reduction
effort, through expanding the customer base for MicroSalt and the
product offerings for US Salt, with healthy, lower sodium
alternatives.
About US Salt LLC
US Salt, LLC is currently responsible for producing and
distributing over 90% of the private label, round can salt business
in the United States. US Salt currently produces and packs 26-ounce
private label table salt, as well as a complete portfolio of
quality round can table salt items to meet all salt seasoning
needs. To learn more about US Salt, visit www.ussaltllc.com .
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 MicroSalt please visit www.microsaltinc.com
To learn more about SaltMe! snacks please visit www.saltme.com/
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 U.S. Salt, 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 U.S. Salt,
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 U.S. Salt, MicroSalt or Tekcapital may vary
materially from those described explicitly or implicitly in the
relevant forward-looking statement. Neither U.S. Salt, 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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END
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