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05 Feb 2021 | 10:20

Takcapital investment Salarius launches crowdfunding campaign

(Sharecast News) - Intellectual property investment company Tekcapital announced on Friday that its portfolio company, Salarius, has launched an equity crowdfund for its subsidiary MicroSalt, to raise up to $0.75m (£0.55m). The AIM-traded firm said MicroSalt launched the crowdfund via the crowdfunding platform MicroVentures, with $0.19m already raised to date.

It said the goal was to raise up to $0.75m in the next 150 days at a pre-money valuation of $5m, with a 10% early subscriber discount for the first $100,000 invested.

Proceeds would be used to advance the company's growth and innovation strategy.

"I am extremely excited and grateful for the support of more than 400 investors that have already contributed to our recently launched crowdfund," said MicroSalt chief executive officer Victor Hugo Manzanilla.

"They are aligned with our vision to make great tasting, better-for-you snacks with MicroSalt, with roughly half the sodium compared with traditional potato chips."

Tekcapital also noted that MicroSalt had announced it was delivering its product to a newly on-boarded restaurant distributor, opening the foodservice market for the company.

It said the distributor had an initial order to sell MicroSalt to an 18-location restaurant chain that would provide customers with low-sodium tortilla chips.

Additionally, MicroSalt was expanding its 'SaltMe' products by offering the one ounce small size package in both 'original' and 'barbecue' flavour within the next two weeks.

That would enable SaltMe to better compete on Amazon by making available the top-selling potato chip package size.

At 0958 GMT, shares in Tekcapital were down 0.4% at 17.43p.
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