RCS - Tekcapital plc - Portfolio Company Update MicroSalt plc

TekcapitalAnnouncement

31/07/2024 08:00

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RNS Number : 4608Y  Tekcapital plc  31 July 2024

31 July 2024

Tekcapital Plc

("Tekcapital", the "Company" or "the Group")

MicroSalt® Portfolio Company Update

Loblaws Supermarkets onboards MicroSalt® shakers

& LeBeau Excel Appointed as Canadian Food Broker

 

Tekcapital Plc (AIM: TEK) the UK intellectual property investment group
focused on creating valuable products that can improve people's lives, is
delighted to announce that MicroSalt® plc ("Microsalt") a leading provider of
full-flavour, natural salt with approximately 50% less sodium, has announced
the expansion of its retail distribution with the new placement of saltshakers
in Loblaws, one of Canada's oldest and largest supermarket retailers which
operates over 2,400 stores across Canada.

 

This new distribution is for both the 2oz and 6oz saltshakers. The product is
expected in stores in September/October 2024.

 

MicroSalt has also announced it has retained LeBeau Excel sales and marketing
brokerage, a leading food broker in the Canadian natural and organic industry,
to support and further expand sales within the Canadian market.

Image courtesy of MicroSalt plc

 

Rick Guiney, CEO of MicroSalt, said:

"We are extremely excited about the placement of MicroSalt® shakers in
Loblaws.  Loblaws is one of the largest supermarket chains in Canada and a
prominent fixture in the Canadian food landscape. United Natural Foods will be
the distribution partner to support the Loblaws placement. Additionally, we
are enthusiastic to partner with LeBeau Excel to expand our business, across
all customer channels in Canada."

 

About Loblaws

The company is known for its innovative private label products such as No
Name® and President's Choice®, which offer high-quality goods at competitive
prices. In addition to groceries, Loblaw's parent company also own's Shoppers
Drug Mart, offering pharmaceuticals and health services, further cementing its
position as a comprehensive retail giant in Canada. To learn more about
Loblaws please visit https://www.loblaws.ca/.

 

About MicroSalt plc

MicroSalt®, is the developer and manufacturer of a leading proprietary
low-sodium salt called MicroSalt®. We are passionate about improving peoples'
lives with better-for-you seasonings and snacks by providing the best
low-sodium salt solution, based on the mechanical transformation of the salt
particle itself. MicroSalt® has patents issued in the U.S. and pending
applications in China, Chile, Australia, Brazil, Europe, Canada, Japan,
Russia, Mexico, India and Hong Kong. MicroSalt® and SaltMe® are registered
trademarks of MicroSalt Inc. For more information, please visit
www.microsaltinc.co.

 

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 (http://www.tekcapital.com) .

Tekcapital owns 33,305,749 shares of MicroSalt plc.

LEI: 213800GOJTOV19FIFZ85

For further information, please contact:

 Tekcapital Plc                                                                                                        Via Flagstaff IR
 Clifford M. Gross, Ph.D.

 SP Angel Corporate Finance                                                                                            +44 (0) 20 3470 0470
 LLP
 (Nominated Adviser and Broker)
 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.

 

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