TekCapital Share News (TEK)

(Sharecast News) - Intellectual property investment company Tekcapital announced on Monday that its portfolio company Salarius has signed an agreement with an unnamed natural foods distributor, to launch North American sales of its new 'SaltMe!' full flavour-low sodium snack line.
The AIM-traded firm described the distributor as one of North America's largest natural food wholesalers, with a number of distribution centers in the United States and Canada, distributing products to natural product superstores, independent retailers, conventional supermarket chains, ecommerce retailers and the food service industry.

It said the agreement was an "important milestone" for Salarius' new potato chip snack line, enabling wide reach of SaltMe! products into consumer outlets of every size in North America.

Purchase orders and shipping of the product was expected from the second quarter, to multiple distribution centers for all four flavour crisps being launched by the company.

"We are very excited about on-boarding a leading food distributor which we believe will enable us to build and maintain market traction for our new SaltMe! full flavour, low sodium snacks," said Salarius chief executive officer Victor Hugo Manzanilla.

Tekcapital explained that SaltMe! potato crisps were made with 'MicroSalt', which is Salarius' proprietary salt with micron-size salt particles that dissolved in the mouth "significantly faster" than regular salt, delivering an increased sensation of saltiness with much less salt, and as a result around 50% less sodium.

"We are very glad to see that Salarius has signed an agreement with one of the largest natural food distributors for its SaltMe! potato crisps," said Tekcapital executive chairman Dr Clifford Gross.

"This is a terrific milestone for the company, and underscores our core belief that when you combine vibrant intellectual property with star-power management, exciting things can happen."

Tekcapital confirmed it owns 91.7% of the share capital of Salarius.

At 1529 GMT, shares in Tekcapital were up 13.75% at 4.55p.