TIDMTEK
RNS Number : 5776W
Tekcapital plc
12 December 2019
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
12 December 2019
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update:
Salarius Secures National Food Ingredient Broker for
MicroSalt(R)
Tekcapital Plc (AIM: TEK), the UK intellectual property (IP)
investment group focused on creating marketplace value from
investing in university technology, is very pleased to announce
that its 97.5 per cent. owned portfolio company, Salarius Ltd, has
secured an agreement with a national food ingredient broker,
Accurate Ingredients, Inc. ("Accurate Ingredients") to market
Microsalt(R) in the United States.
MicroSalt(R) is a proprietary salt, made with micron-size salt
particles that dissolve in the mouth significantly faster than
regular salt, delivering an increased sensation of saltiness with
much less salt, and as a result, approximately 50% less sodium.
MicroSalt is Non-GMO, all Natural, Kosher and Gluten Free.
The agreement with Accurate Ingredients compliments Salarius
existing sales strategy which includes attendance at food trade
shows and direct B2B customer outreach initiatives. As of today,
over 20 new potential customers are in the process of testing and
evaluating the applicability of Microsalt(R) on their products.
"We are very excited about our collaboration with Accurate
Ingredients and working with their experienced and highly trained
team to accelerate sales and to raise the profile on our value
proposition. Salarius will be working with the Accurate Ingredient
team in several geographic areas across the U.S." says Victor Hugo
Manzanilla, CEO of Salarius.
Accurate Ingredients provides a network of experienced sales
representatives residing across the United States with offices
located on both the east and the west coast, who specialize in the
sale of food ingredients. The portfolio of ingredients they sell
are used in all segments of the food industry. Their broad range of
ingredients can be found in dry, refrigerated and frozen foods.
"For over three decades, Accurate ingredients has been a primary
resource for proven and reliable food ingredients, and we are
pleased to be working with them" says Victor Hugo Manzanilla.
Market Information
The low sodium ingredient market is estimated to reach US$1.76
billion by 2025 with a CAGR 11.7%(1) . The highly competitive
global savory snacks market is expected to reach US$108 billion by
2021(2) .
Dr Clifford Gross, Executive Chairman at Tekcapital, commented:
"We are glad to see the expansion of Salarius' go to market effort
to several important geographical markets in the United States with
its first national food ingredient broker."
About Salarius ltd
Salarius, is the developer and manufacturer of a proprietary low
sodium salt called MicroSalt(R). Salarius is passionate about
improving lives with healthier food and is 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. The 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 enhanced flavor
consistency. To learn more please visit https://salarius.co/.
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc +1 305-200-3450
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated
Adviser and Joint Broker) +44 (0) 20 3470 0470
Richard Morrison/Charlie Bouverat (Corporate
Finance)
Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9427
Colin Rowbury (Corporate Broking)
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' 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 may vary materially from those
described explicitly or implicitly in the relevant forward-looking
statement. Salarius neither intends, nor assumes any obligation, to
update or revise these forward-looking statements in light of
developments which differ from those anticipated.
References
(1)
https://www.futuremarketinsights.com/reports/sodium-reduction-ingredient-market
(2)
https://zmrindustryjournal.us/8402/savory-snacks-market-size-share-expanding-across-the-globe-by-2016-2024/
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END
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