Last checked at 26 Jun 2023 07:00
26 June 2023
Tekcapital Plc
("Tekcapital" or the "Group")
MicroSalt® Expands U.S. Retail Footprint by 131 Stores
for its Low-sodium, Full-Flavour Saltshakers
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 Ltd has expanded its U.S. retail presence for its low-sodium, full-flavour saltshakers with new placements in 51 Fine Fare stores, 8 Trade Fair stores and 72 Big Y stores, through our partnership with US Salt.
Fine Fair is a group of independently owned stores that are focused on the New York, New Jersey and Pennsylvania markets. Each store prides itself on fresh quality foods, competitive pricing, and huge product selections. http://www.finefaresupermarkets.com/AboutUs.aspx
Trade Fair is a chain of supermarkets in New York State that offers store hours open 24 hours per day, seven days a week and boosts food from all nations. https://tradefairny.com/
Big Y is one of the largest independently owned supermarket chains on New England with 72 stores and is the second largest in Southern New England after Stop & Shop with annual revenues of $2.4 billion (2021) https://www.bigy.com/
"We are proud of our partnership with US Salt to build product distribution as it underscores the retail need for full flavor, low-sodium products. Excess sodium consumption is one of the leading contributors to hypertension, and partnerships like this are the best way to provide consumers with great tasting products with less sodium," said Rick Guiney, CEO of MicroSalt®.
Photo courtesy of Microsalt ltd.
About MicroSalt
MicroSalt is dedicated to innovating food technology solutions that enable people to live longer, healthier and happier lives. Its patented low-sodium salt delivers natural salt with approximately 50% less sodium and may be used by both consumers and food manufacturers who wish to decrease the amount of sodium in their food. MicroSalt is 100% natural, non-GMO, gluten free, Kosher and contains no potassium chloride. To learn more about MicroSalt and MicroSalt® products, please 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) | +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.