TekCapital Regulatory News (TEK)

16 September 2024

MicroSalt plc

("MicroSalt" or the "Company")

Business Update

Multiple Placements of Microsalt Products and B2B Progress

MicroSalt plc (AIM: SALT), MicroSalt plc (AIM: SALT), a leading provider of full-flavour, natural salt with approximately 50% less sodium is pleased to announce further availability of its take home shakers and its SaltMe branded low sodium crisps with new placements in Winn Dixie, Fresh Thyme Markets, Sedano's Supermarkets, Northwest Grocers, Cub Foods, Central Market, as well as bulk orders from Ingredients Online.

· 350 Winn Dixie stores for MicroSalt's 2 oz (57 g) low sodium saltshaker, which launched in July. Winn-Dixie grocery stores serve communities throughout five southeastern states - Alabama, Florida, Georgia, Louisiana and Mississippi. https://www.winndixie.com

· 70 Fresh Thyme stores for MicroSalt's 2 oz and 6 oz (170g) low sodium saltshaker, launched in August. Fresh Thyme Market is a regional American organic food supermarket chain that operates 70 stores across the Midwest. https://ww2.freshthyme.com

· 35 Sedano's stores for both MicroSalt's 2 oz and 6 oz shakers along with all 4 flavours of SaltMe low sodium crisps, launched in August. Sedano's Supermarkets is the United States' largest Hispanic retailer and largest Hispanic-owned supermarket chain. https://www.sedanos.com/

· 60 Northwest Grocer stores for MicroSalt's 2 oz and 6 oz shakers, launched in September. Northwest Grocers was formed in 2004, to help independent grocers operate more efficiently and economically. https://www.northwestgrocers.com/

· 80 Cub Foods stores for MicroSalt's 2 oz and 6 oz shakers, launched in June. Cub Foods is a supermarket chain that operates stores in Minnesota and Illinois. https://www.cub.com

· 10 Central Market stores for MicroSalt's 2 oz and 6 oz shakers, launched in July. Central Market is an American gourmet grocery store chain owned by H-E-B Grocery Company based in San Antonio, Texas. The chain has ten locations, all in Texas. https://www.centralmarket.com/

· Ingredients Online for MicroSalt bulk. Ingredients Online is a B2B e-commerce marketplace for bulk and wholesale ingredients. MicroSalt bulk will be sold direct to the customer from the Ingredients Online warehouses in New Jesey and California by the end of September.

https://www.ingredientsonline.com/

This brings the total number of stores in which MicroSalt's shakers or SaltMe! crisps are retailing across the United States to approximately 1,200.

To support these new placements, MicroSalt will be using a new United Natural Foods, Inc. ("UNFI") distribution centre in Florida as well as a Kehe Foods distribution centre in Illinois. UNFI is the largest publicly traded wholesale distributor delivering healthier food options across the US and Canada, while KeHE is one of the largest and most respected grocery and natural distributors in the US.

The Board is pleased that opportunities and market acceptance for our bulk and private label sales remain strong. The Company is in advanced discussions with major food manufacturers, with volume commitments of approximately 350,000 lbs., received in Q3 with more commitments anticipated in Q4 2024, from companies in both Mexico and the US. Positive conversations are also ongoing in the UK, Canada, South Africa, and the US, as the bulk business takes hold in Q4.

MicroSalt will provide further updates in due course.

Rick Guiney, CEO of MicroSalt, said: "We are very excited about the placement of our MicroSalt products and the consequential growth in distribution within UNFI, Kehe and Ingredients Online. All of these retailers have strong presence in their respective markets, and this continues our efforts to have MicroSalt in every kitchen pantry across the US and beyond."

For more information, please visit www.microsaltinc.co, follow on X @microSaltPLC or contact:

About MicroSalt®

MicroSalt® produces a patented full-flavour, low-sodium salt for food manufacturers and consumers.

MicroSalt is a major potential disruptor in the food market, thanks to its micron sized particles which deliver the same sense of saltiness to a wide range of foods but with approximately 50% less sodium. Excess sodium consumption is a significant contributor to cardiovascular disease and MicroSalt's solution meets the rising demand for healthier alternatives to traditional salt. The WHO has set a target for reducing global sodium intake by 30% by 2025, which it estimates will save 7 million lives by 2030.

Each year, cardiovascular disease costs the UK £19 billion - if the average salt intake was reduced by one gram per day, it has been estimated that 4,147 lives and £288 million would be saved each year in the UK. As a nation, the UK consumes 183 million kilograms of salt each year, and 70 per cent. of the typical person's sodium intake is hidden in processed foods.

Operational since 2018, MicroSalt uses patent-protected technology which helps create high barriers to entry within the reduced-sodium salt market. The group has a US patent and 14 patent applications pending in other jurisdictions globally.

The Directors believe that MicroSalt is well positioned to capture growth in the low sodium market, which is expected to grow exponentially, and that there is also scope to enter the larger salt market.

MicroSalt has a three-pronged marketing strategy, targeting large B2B food manufacturers, the B2C market and e-commerce customers. Microsalt's all natural, low-sodium solution is well positioned to take advantage of the fast-growing market for a healthier alternative to traditional salt.

ENDS