Tekcapital investee MicroSalt closes $0.75m crowdfund

Intellectual property investor Tekcapital announced on Tuesday that Salarius' US subsidiary MicroSalt has completed an oversubscribed Reg CF crowdfund, having achieved its goal of $0.75m.

The AIM-traded firm described its subsidiary company Salarius as the developer and manufacturer of a proprietary low-sodium salt, branded ‘MicroSalt’.

“MicroSalt, Salarius' US operating subsidiary, aims to revolutionise the food industry with its patented better-for-you salt, that delivers the full-flavour experience of salt with roughly half the sodium.

“MicroSalt is all-natural, non-GMO, and Kosher.

“Additionally, the ultra-small particle size enhances product adhesion, which reduces waste and provides improved flavour consistency.”

Tekcapital owns 97.2% of Salarius, and approximately 76% of MicroSalt, with MicroSalt’s current post-money valuation standing at $5.75m.

At 1607 GMT, shares in Tekcapital were up 5.81% at 32.8p.