Last checked at 27 Feb 2023 07:00
27 February 2023
Tekcapital Plc
("Tekcapital" or the "Group")
Portfolio Company Update: MicroSalt, Ltd. ("MicroSalt")
MicroSalt® Expands Distribution of its Low Sodium 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 today announced that both sizes of its new line of low sodium salt shakers are now available through UNFI and KeHE Foods, two of the U.S.'s largest retail food distributors.
United Natural Foods, Inc. (NYSE: UNFI) is the largest publicly traded wholesale distributor delivering healthier food options to people throughout the United States and Canada.
KeHE Distributors is one of the nation's top wholesale food distributors with 16 distribution centers across North America. KeHe partners with grocery stores, supermarkets, natural retailers, online eCommerce drop shippers to access a curated assortment of innovative products via a one-truck delivery.
Additionally, as a result of its recent trade show attendance, MicroSalt has received orders from Pete Markets in Illinois and Busch's Market in Michigan for the new MicroSalt low sodium salt shakers. Delivery will be executed through KeHE Foods.
Pete's Market currently has 17 upscale stores in Chicago and its suburbs and Busch has 16 stores in southeastern Michigan with headquarters in Ann Arbor.
"Excess sodium intake is one of the world's greatest health concerns, and partnerships like these are the best way to make a difference in our efforts to address the sodium challenge. We are proud to have our shakers available at both UNFI and KeHe and truly believe that working together we can make a difference." Said Rick Guiney, CEO of MicroSalt®"
To learn more about Pete Market visit: https://www.petesfresh.com/our-company
To learn more about Busch's Market visit: https://www.buschs.com/whatisbuschs
About MicroSalt, Ltd
MicroSalt, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. 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® and SaltMe® 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.
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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)
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Flagstaff Strategic and Investor Communications Tim Thompson/Andrea Seymour/Fergus Mellon microsalt@flagstaffcomms.com
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+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.