H Mart Partners with MicroSalt

RNS Number : 6581S

Tekcapital plc

13 March 2023

 

13 March 2023

Tekcapital Plc

("Tekcapital" or the "Group")

Portfolio Company Update: MicroSalt Ltd   ("MicroSalt")

H Mart Partners with MicroSalt® to Deliver Low-Sodium Snacks for its 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 Hanahreum Group ("H Mart"), one of the fastest growing retailers in United States has agreed to carry MicroSalt's SaltMe® branded crisps.

H Mart is recognised as one of the fastest growing retailers by the National Retail and Supermarket News and has listed H Mart as one of the Top 50 Small Chains and Independents in the United States & Canada.

MicroSalt® provides a much-needed option that allows food manufacturers and consumers to cut the sodium content of their food without impacting the flavor. With 31% of adults worldwide suffering from high blood pressure and other cardiovascular diseases - pressure is mounting around the globe to lower the sodium content in prepared and packaged foods as well as in the home.

"There are tens of millions of health-conscious Americans, including those suffering from high blood pressure and other cardiovascular diseases who would certainly enjoy the full saltiness of SaltMe! potato chips with approximately half the sodium found in traditional potato chips," said MicroSalt's CEO Rick Guiney.

About H Mart

H Mart is the largest Asian supermarket chain in America. Starting in 1982 with a single store in Woodside, Queens, H Mart has grown to include more than 97 stores across the United States.  H Mart is one of America's premier Asian food destinations and provides groceries and everyday essential needs as well as upscale products.  H Mart offers a full line of Asian foods as well as a broad range of Western groceries to complement its full scale offering to that of a traditional supermarket.  H Mart is also known for its innovative new food halls which are an extension of over 30 years of providing eateries in its stores. To learn more about H Mart please visit https://www.hmart.com/.

About MicroSalt, Ltd

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   www.microsaltinc.com .

To learn more about SaltMe! snacks please visit   www.saltme.com

Tekcapital owns 97% of the share capital of MicroSalt Ltd and 6,034,683 shares (78%) 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:

Tekcapital Plc		Via Flagstaff IR
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated Adviser and Broker)		[phone]
Richard Morrison / Charlie Bouverat (Corporate Finance) Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications Tim Thompson/Andrea Seymour/Fergus Mellon  [e-mail]		[phone]

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 and/or Tekcapital 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 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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