Hannaford Brothers Partners with MicroSalt

21 December 2022

Tekcapital Plc

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

Portfolio Company Update:

Hannaford Brothers Partners with MicroSalt®

to Provide Low-Sodium Solutions for Consumers

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 Hannaford Brothers one of the most respected food retailers in the north-eastern United States has agreed to stock both sizes of MicroSalt's new table-top shakers.

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 extremely excited that Hannaford Brothers has joined with us to provide low sodium solutions to its customers. This is a tremendous step in our march toward reducing excess sodium in the average diet. Our take-home shakers will let people salt their food to taste without excess sodium," said Rick Guiney, CEO of MicroSalt®.

About Hannaford Supermarkets

Hannaford Supermarkets operates 185 stores in the Northeast, most with full-service pharmacies. Stores are located in Maine, New York, Massachusetts, New Hampshire, and Vermont. All are committed to offering great fresh food, convenient experiences and everyday low prices. Hannaford also is an active and committed community partner-focusing on fighting hunger, supporting youth development, and helping people live healthier lives. Hannaford is an industry leader in sustainability with a strong commitment to reducing waste and protecting the environment. Hannaford diverts or donates all food at risk of going to waste-sending no food to landfills. In 2020, Hannaford donated more than 25 million pounds of food to hunger relief organizations and prevented 65 million pounds of food waste from reaching landfills. Hannaford employs nearly 30,000 associates and is based in Scarborough, Maine. Additional information can be found at www.hannaford.com.

About MicroSalt®

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.microsaltinc.com

Tekcapital owns 97.2% of the share capital of MicroSalt Ltd. and 73% 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:

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.