Last checked at 29 Dec 2021 07:00
29 December 2021
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Salarius, Ltd. ("Salarius")
Appointment of Rick Guiney as CEO of MicroSalt Inc.
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating valuable products from investing in university technology that can improve people's lives, is pleased to announce that Salarius' U.S. subsidiary MicroSalt Inc. (MicroSalt) has appointed Rick Guiney as CEO.
Rick has more than 35 years of experience in the food industry, including 30+ years as President & CEO of Classic Snacks, Inc., where he pioneered the ground-up development of the business and transformed it into a market-leading direct distribution company in the food industry. Classic Snacks was included on the Inc. 500 Fastest Growing Company List, and quickly became a nationwide snack food packager and distributor to airlines, restaurants, hotels, country clubs, bars, taverns, and retail private label customers. Rick also served as Foodservice Business Manager for Quorn Foods in the United States.
"I'm thrilled to be joining this successful, rapidly growing enterprise as it enters what I believe to be a significant period of accelerated growth. MicroSalt® is committed to making an impact on cardiovascular disease by reducing excess sodium consumption. The recently announced FDA sodium reduction guidelines, the placement of our low-sodium full-flavour SaltMe! Chips with the largest supermarket in the U.S., and the receipt of two international awards (P&G Alumni Star Entrepreneur Award and the GHP Fitness & Nutrition award, for the best low sodium salt in 2021) all point to the same conclusion: the need and market for MicroSalt is both immediate and global, " said Rick Guiney, CEO of MicroSalt®.
"We are very excited about the future potential of MicroSalt and the positive impact it can make by enabling "better for you" snacks with reduced sodium. We want to express our gratitude to Victor Manzanilla for his leadership of MicroSalt during its formative stage, and we are glad that he will continue to guide the company as a member of its expanded board of directors," said Clifford M. Gross, Ph.D., CEO of Tekcapital.
About Salarius Ltd. and MicroSalt, Inc.
Salarius, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving peoples' lives by providing the best low-sodium salt, based on the mechanical transformation of the salt particle itself. MicroSalt, Inc., Salarius' U.S. operating subsidiary, aims to revolutionize the food industry with its patented better-for-you salt, that delivers the full-flavour experience of salt with roughly half the sodium. MicroSalt® is all-natural, non-GMO, and Kosher. Additionally, the ultra-small particle size enhances product adhesion, which reduces waste and provides improved flavour consistency. MicroSalt® and SaltMe® are registered trademarks of MicroSalt Inc. To learn more about MicroSalt please visit https://Salarius.co/.
To learn more about SaltMe! snacks please visit https://saltme.com/.
Tekcapital owns 97.2% of the share capital of Salarius Ltd. and approximately 87% of the share capital 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 Salarius 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 Salarius' 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 Salarius or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Salarius nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.