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.
Tekcapital owns 33,305,749 shares of
MicroSalt plc.
LEI: 213800GOJTOV19FIFZ85
For further information, please
contact:
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Tekcapital Plc
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Via Flagstaff IR
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Clifford M. Gross,
Ph.D.
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SP Angel Corporate
Finance
LLP
(Nominated Adviser and Broker)
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+44 (0) 20 3470
0470
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Richard Morrison / Charlie Bouverat
(Corporate Finance)
Rob Rees (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 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.