Tekcapital PLC (LON:TEK) shares rose on Friday after the firm noted that it's portfolio firm, Salarius has inked a partnership deal for its MicroSalt product with US ingredients supplier Hanks Brokerage.
Hanks supplies products to food manufacturers, restaurant chains and food service distributors, with the deal for MicroSalt to be focused on sales in the southwestern US.
AIM-listed Tekcapital said 25 potential customers were currently in the process of testing and evaluating MicroSalt for potential uses in snacks and other product lines.
"We are very excited about our partnership with Hanks Brokerage and working with their team of sales professionals to expand brand awareness and accelerate sales of MicroSalt. Our partnership is a win-win-win as we are offering their customers a unique, on-trend, innovative ingredient that will also help consumers lower their sodium intake", said Salarius chief executive Victor Manzanilla, CEO of Salarius.
MicroSalt is a low-sodium substitute for salt made from particles that are smaller than regular salt crystals.
In morning trade, TekCapital shares were 2% higher at 6.25p.
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