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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Tekcapital plc    TEK   GB00BKXGY798

TEKCAPITAL PLC

(TEK)
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Delayed Quote. Delayed London Stock Exchange - 11/26 11:35:17 am
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Portfolio Company Update: Salarius

09/24/2020 | 09:20am EST

Salarius Partners with FXM Ingredients to Distribute MicroSalt® in Mexico

For Immediate Release

WEST PALM BEACH, FLORIDA & LONDON, U.K. / September 24, 2020 /

Salarius is pleased to announce that it has signed a partnership agreement with FXM, to lead the sales and marketing of MicroSalt® in Mexico and Latin America.

FXM provides the highest quality food ingredients to companies worldwide. FXM offers integral solutions such as logistics, professional and technical consulting on the development and innovation of products. They are experts on market trends for the food industry in Mexico and Latin America.

This partnership marks the first time that MicroSalt® will be sold and marketed outside U.S. borders. The strategic sales plan includes securing meetings with the top salty snack food manufacturers, flavor houses, contract manufacturers and other food companies looking for full flavor, low sodium alternatives along with attendance at food trade shows such as the Food Technology Summit and Expo in Mexico City.

MicroSalt® is a proprietary, patented salt made 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. MicroSalt is Non-GMO, all Natural, Kosher and Gluten Free.

"FXM is thrilled to enter into a strategic partnership with Salarius. We are excited to introduce MicroSalt® as a solution in our portfolio for the new Mexican labeling concerning the reduction of sodium content. Integrating Salarius into our family of world class manufacturing partners is complimentary to the FXM business model and is in alignment with our strategic vision for growth." says Gilberto Olvera Hernández CEO of FXM

"We are looking forward to working with FXM to bring the full flavor- low sodium benefits of MicroSalt® to Mexican consumers to help lower their sodium intake. Our collaboration with FXM will introduce MicroSalt® to food companies in Mexico and Latam that could benefit most from our ground-breaking,,on-trend, innovative ingredient," says Victor Hugo Manzanilla, CEO of Salarius.

Market Information

The highly competitive global savory snacks market is expected to reach US$108 billion by 2021, and the low sodium ingredient market estimated to reach US$1.76 billion by 2025 with a CAGR 11.7%. In Mexico, annual revenue in the snack food segment amounts to approximately US$5,688M in 2020. The Mexican market is expected to grow annually by 9.1% (CAGR 2020-2025). The Mexican Ministries of

Media News Press Release Exclusively for Client Salarius.co / MicroSalt®

Page 1 of 2

Health recently passed a new law on March 27,2020 mandating a new front of packaging labeling (FOPL) system for all packaged food. Under NOM-051, products that exceed 350mg of sodium per 100mg of product, will need to prominently display the warning, Exceso de Sodio (Excess Sodium).

About Salarius

Salarius, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving lives with healthier food and are taking the lead in the industry by providing the best low-sodium salt solution, based on the mechanical transformation of the salt particle itself. Our new 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. MicroSalt® and SaltMe® are registered trademarks of Salarius Ltd. To learn more please visit https://Salarius.co.

About FXM Ingredients:

Since 1988, FXM Ingredients has been recognized for supplying the highest quality food ingredients that comply with international standards and regulations, manufactured by world leading companies in their field, which we represent exclusively. We offer integral solutions through professional technical assistance in the development and innovation of products, adding a wide knowledge of the global and regional trends for the food industry. At FXM Ingredients, we are committed to always satisfy our customers' highest expectations, adding value with our services and product portfolio. For more information please contact: info@fxm.com.mx or visit www.fxm.com.mx.

For News Media and Press Inquiries

Contact Victor Hugo Manzanilla, CEO at Salarius Ltd. Email vhmanzanilla@salarius.co or call +1-877-825-0655.

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' 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 may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Salarius neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. ###

Media News Press Release Exclusively for Client Salarius.co / MicroSalt®

Page 2 of 2

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Tekcapital plc published this content on 24 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 September 2020 13:19:06 UTC


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Financials
Sales 2019 7,72 M - -
Net income 2019 5,52 M - -
Net cash 2019 0,47 M - -
P/E ratio 2019 0,57x
Yield 2019 -
Capitalization 14,3 M 14,3 M -
EV / Sales 2018 0,36x
EV / Sales 2019 0,51x
Nbr of Employees 6
Free-Float 71,6%
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Managers
NameTitle
Clifford M. Gross Chairman & Chief Executive Officer
Konrad Dabrowski Chief Financial Officer
Selwyn Lloyd Chief Information Officer
Robert Clell Miller Non-Executive Director
Louis Emmanuel Castro Non-Executive Director
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