Tekcapital plc MicroSalt partners with large USA Retailer (9845X)

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 the Market Abuse Regulations (EU) No. 596/2014 as imported into the laws of England and Wales by virtue of the European Union (Withdrawal) Act 2018 (as amended) and certain other enacting measures ("UK 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.

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)                                 [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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCKZGGKLMVGFZM

(END) Dow Jones Newswires

May 02, 2023 02:00 ET (06:00 GMT)