Portfolio Company Update - MicroSalt

9 Dec. 2024

Tekcapital Plc

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

MicroSalt® and Hippie Snacks Ink Supply Agreement

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 a supply agreement, along with an initial order, with Hippie Snacks, a Canadian company focusing on minimally processed, clean label food products.

Rick Guiney, CEO of MicroSalt, said: "We are very excited about the partnership with Hippe Snacks. They are a well-regarded, widely distributed family of products that has a mission that resonates with ours - to provide healthier food for everyone. Their distribution encompasses an active ecommerce business including Amazon and Thrive as well as brick & mortar Tier-1 locations such as Target stores across numerous markets. We are rolling out with an initial item in Q1 of 2025 and expect to expand to as many as 8 different SKU's during the next 12-24 months in both Canada and the US."

Almond Crisps, one of the many varieties of Hippie snacks.

Image courtesy of Hippie Snacks

About Hippie Snacks

Hippie Snacks is a better-for-you snack brand which started business selling organic tortilla chips, before expanding across a number of popular plant-based crisps. Based in Burnaby, British Columbia, Hippie Snacks is more than just a plant-based snack company - it is one of Canada's founding Certified B corporations. This vegan-friendly company is committed to selecting high-quality, non-GMO, and whole-food ingredients from local farmers and growers who support sustainable business practices. Hippie Snacks is known for creating ethical and responsible snacks through thoughtful ingredient sourcing and mindful waste reduction. For more information, please visit https://www.hippiesnacks.com/.

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 or follow on X @MicroSaltPLC.

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives. 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

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

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.