Tekcapital Plc Provides Update on Portfolio Company Salarius, Ltd.

Rhea-AI Summary

Tekcapital Plc (OTCQB: TEKCF) welcomes the FDA's new voluntary sodium reduction goals aimed at improving public health. These guidelines encourage food manufacturers to reduce sodium levels in processed foods within 2.5 years. The initiative is expected to boost sales for MicroSalt® and SaltMe! snacks, as they offer a low-sodium solution without compromising flavor. MicroSalt's patented technology delivers a full-salt experience with half the sodium, positioning it as a viable option for compliance with the new FDA standards.

Positive

• FDA sodium reduction goals could enhance sales for MicroSalt and SaltMe! snacks.
• MicroSalt provides a compliant solution for food manufacturers to meet new FDA standards while preserving taste.

Negative

• None.

FDA Releases Voluntary Sodium Reduction Goals for the Food Industry

LONDON, UNITED KINGDOM , Oct. 14, 2021 (GLOBE NEWSWIRE) -- Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF), the UK intellectual property investment group focused on creating valuable products from investing in university technology, that can improve people’s lives, is very pleased to announce that the U.S. Food and Drug Administration (FDA) has just released voluntary sodium reduction goals for the food industry.

According to the FDA, these targets were introduced “to provide measurable voluntary short-term (2.5-year) goals for sodium content in commercially processed, packaged, and prepared foods to reduce excess population sodium intake.”ⁱ

Dr. Jennifer Ashton, ABC News chief medical correspondent said “The news from acting FDA Commissioner Janet Woodcock and Susan T. Mayne, director of the FDA's Center for Food Safety and Applied Nutrition, could be the biggest, most important intervention in a generation for public health."ⁱⁱ

This is a significant milestone for Salarius for the following reasons:

• We believe the FDA guidelines will encourage snack food manufactures to reduce sodium levels in their products across the board;
• Salarius anticipates this should have a positive impact on both B2B sales of MicroSalt® and retail sales of SaltMe! snacks;
• MicroSalt® could be viewed as a timely, nationwide solution, to help food companies meet these guidelines without sacrificing the full-flavour of their snack foods, which is key to their successful on-going sales.

MicroSalt aims to revolutionize the food industry with its patented sodium microparticle, that delivers the full-flavour experience of salt with roughly half the sodium. MicroSalt’s salt particles are approximately 100 times smaller than regular table salt, allowing them to rapidly dissolve, producing a large sensation of saltiness. MicroSalt® is all-natural, non-GMO, and Kosher.

“We’re very excited to see the FDA take a leadership role in encouraging the food industry to embark on meaningful sodium reduction programs for their products,” said Victor Hugo Manzanilla, CEO of MicroSalt. “This is a major milestone for the country, and we are ready to partner with food manufacturers to help them comply with the new guidelines whilst maintaining the full-flavour of their snacks.”

About Salarius Ltd.
Salarius, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving peoples’ lives with better-for-you 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 flavor 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://Salarius.co/.
To learn more about SaltMe! snacks please visit https://saltme.com/.

Tekcapital owns 97.2% of the share capital of Salarius Ltd. and 87.1% of the share capital 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.

Forward Looking Statements & Disclaimer
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 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, on social media, 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 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 Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Forward-looking statements express, as at the date of this release, the Company’s plans, estimates, valuations, forecasts, projections, opinions, expectations or beliefs as to future events, results or performance. Forward-looking statements involve a number of risks and uncertainties, many of which are beyond the Company’s control, including those associated with COVID-19, and there can be no assurance that such statements will prove to be accurate. No assurance is given that such forward looking statements or views are correct or that the objectives of the Company will be achieved. Further, valuations of Company’s portfolio investments and net asset value can and will fluctuate over time due to a variety of factors and this could have a material negative impact on the Company’s financial performance. Tekcapital neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which may differ from those anticipated.

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ⁱ https://www.fda.gov/regulatory-information/search-fda-guidance-documents/guidance-industry-voluntary-sodium-reduction-goals

ⁱⁱ https://www.goodmorningamerica.com/food/story/fda-recommends-restaurants-food-manufacturers-cut-back-salt-80554477

FAQ

What are the FDA's sodium reduction goals announced on October 14, 2021?

The FDA introduced voluntary sodium reduction goals for the food industry to lower sodium levels in processed foods over 2.5 years.

How will Tekcapital benefit from the FDA's sodium reduction guidelines?

Tekcapital, through its subsidiary Salarius, anticipates increased B2B and retail sales of MicroSalt® and SaltMe! snacks as manufacturers seek to comply with the guidelines.

What is MicroSalt and how does it relate to the FDA's announcement?

MicroSalt is a patented low-sodium salt solution by Salarius that allows food manufacturers to reduce sodium without sacrificing flavor, aligning with the FDA's new guidelines.

What impact do the FDA's sodium goals have on Tekcapital's business?

The FDA's sodium reduction goals are expected to drive demand for Tekcapital's MicroSalt products, positioning them as a favorable option for health-conscious consumers.