The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
4 March 2020
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update
Salarius Secures Premier Contract Sales Partner for SaltMe!® Snacks
Tekcapital Plc (AIM: TEK), the UK intellectual property investment group focused on creating marketplace value from investing in university technology, is very pleased to announce that portfolio company Salarius ltd., ("Salarius") has signed an agreement with iLevel Brands Inc ("iLevel Brands") as part of its launch of North American sales of its new SaltMe!® full flavour-low sodium snack line.
This agreement, combined with their previously announced distribution agreement on 2 March 2020, will expand Salarius' market penetration and brand awareness for its new potato chip snack line with retail brand placements across the entire East Coast, Midwest and Southwest geographic areas of the United States.
"iLevel Brands is proud to partner with Salarius. They have created a groundbreaking and innovative solution to the challenges of sodium reduction in formulations. We prefer representing brands like SaltMe!® because they have created a new and innovative solution to an important problem in the industry and their growth potential is unlimited. We look forward to growing with Salarius and having a long-term partnership in the natural products industry" said David Abrahams, CEO of iLevel Brands.
"We are very excited about our alliance with iLevel Brands which will enable us to present our new innovative brand SaltMe!® full flavor- low sodium snacks to numerous distributors and retailers in an accelerated time frame." says Victor Hugo Manzanilla, CEO of Salarius.
SaltMe!® all natural potato crisps are made with MicroSalt®, Salarius' proprietary salt with micron-size salt particles that dissolve in the mouth significantly faster than regular salt, delivering an increased sensation of saltiness with much less salt, and as a result approximately 50% less sodium. The snacks are Non-GMO, all Natural, Kosher and Gluten Free, without sacrificing the salty taste.
Market Information
The highly competitive global sweet and savory snacks market is expected to reach USD 219.6 billion in 20241.
Dr Clifford Gross, Executive Chairman at Tekcapital, commented: "We are very glad to see that Salarius has signed an agreement with iLevel Brands Inc, a premier natural food broker for its SaltMe!® crisps. This agreement should enhance market penetration and accelerate sales growth for the SaltMe!® product line in the second half of 2020."
Tekcapital owns 91.7% of the share capital of Salarius ltd. In February 2020, Salarius executives exercised stock options resulting in Tekcapital's ownership being reduced from 97.5% to 91.7%.
About Salarius ltd
Salarius, is the developer and manufacturer of a proprietary low sodium salt called MicroSalt®. Salarius is passionate about improving lives with healthier food and is 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 flavor, because it is salt. The 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 enhanced flavor consistency. To learn more please visit https://salarius.co/.
About Tekcapital plc
Tekcapital creates value from investing in new, university-developed intellectual properties and provides a range of IP investment services to make it easy for organisations to commercialise university-developed technology. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc |
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Via Flagstaff IR |
Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) |
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+44 (0) 20 3470 0470 |
Richard Morrison / Charlie Bouverat (Corporate Finance) |
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Novum Securities Limited (Joint Broker) |
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+44 (0) 20 7399 9427 |
Colin Rowbury (Corporate Broking) |
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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.
Reference
1https://www.businesswire.com/news/home/20180621006194/en/Global-Sweet-Savory-Snacks-Market-Report-2018
