Last checked at 19 Oct 2023 07:00
19 October 2023
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update:
MicroSalt® gains placement of its SaltMe! Low Sodium Crisps
in Longs Drug Stores
Tekcapital Plc (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives, is pleased to announce that Longs Drugs a leading drug store chain in Hawaii has committed to place MicroSalt's SaltMe! Crisps in their stores.
MicroSalt® provides a much-needed option that allows food manufacturers and consumers to slash the sodium content of their food without impacting the flavour. With 31% of adults worldwide suffering from high blood pressure and other cardiovascular diseases - and with efforts mounting around the globe to lower the sodium content in prepared and packaged foods - MicroSalt® is offering a truly timely solution.
"We are very excited about the placement of our SaltMe Low Sodium Crisps with the Longs Drug Chain. Excess sodium consumption is one of the leading contributors to hypertension and heart disease. Placements like this are the best way to provide consumers with great tasting, healthy products with less sodium," said Rick Guiney, CEO of MicroSalt®.
About Longs Drugs
Longs Drugs is an American drug store chain owned by parent company CVS Health, with approximately 70 drugstores throughout the state of Hawaii. Longs Drugs was acquired by parent company CVS Health in 2008. To learn more please visit https://en.wikipedia.org/wiki/Longs_Drugs.
About MicroSalt®plc
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 https://www.microsalt.co
Tekcapital owns approximately 87% of the share capital of MicroSalt plc and 92% 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)
|
Flagstaff Strategic and Investor Communications +44 (0)207 129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
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 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's 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.