Further Information

Life Salt for health

LifeSalt is low-sodium table salt which is produced from seawater and geothermal brine. It just contains 40% of the sodium of regular table salt. Overconsumption of sodium is one of the main reasons for cardiovascular diseases and an important preventive measure is decrease in salt consumption or switching to low sodium salts. Arctic Sea Minerals has developed a new production method for low-sodium salt which contains besides sodium chloride, potassium chloride and magnesium salts. It also contains all the trace minerals of seawater that are vital for the human metabolism. The company is stationed in Grindavik, southwest Iceland, and aims at enlarging its production unit and exporting the product. For that a significant amount of capital is needed and this funding is part of it.

The enlargement of the production unit of Life Salt is a key step for export. The company intends to build a new factory in Grindavik and the aim of this funding is to finance the equipment needed.

The team at Arctic Sea Minerals has developed a special low-sodium salt that tastes like regular table salt. The method used, that has been patented in Europe, USA, India and China, is unique in that all the minerals are crystallized simultaneously in one crystal (single-grain crystal). Life Salt contains 41% sodium chloride, 41% potassium chloride, 17% magnesium salts and 1% trace minerals, in contrast to regular table salt that contains 100% sodium chloride in most cases. Only renewable energy is used in the production process and no additives.

Equity crowdfunding for Arctic Sea Minerals

Execution:

An agreement will be signed with each client that buys equity in the company signed by the client and the board of Arctic Sea Minerals. In the agreement is stated the number of shares bought, the currency and the percentage equity in the company (see the description in Karolina Fund page).

When the funding is over and the result is clear the prospective shareholders will be summoned to a meeting by the company where agreement will be signed for each one. There is no intent to issue special share certificate but that will be looked into later.

The Arctic Sea Minerals team

Egill Þórir Einarsson, innovator
Chemical engineer with 35 years background in salt production and research on utilization of geothermal brine. Is one of the founders and principal owners of Arctic Sea Minerals and has been General Manager since 2017. He has extensive experience in research of geothermal brine from the geothermal power station in Reykjanesi in view of utilization of minerals for food production and industrial use. He has also developed methods for controlling silica precipitation in utilization of geothermal brine for power generation. Companies where he has been in charge have got grants from Technology Developement Fund, Energy Fund, the AVS-fund and Reykjanes Developement Fund. He has also served as an Assistant Professor in Engineering Technology at Keilir Academy on behalf of University of Iceland.

Guðrún Agla Egilsdóttir, design and marketing advicer
Guðrún Agla finished her study in design from the Technical College in year 2014 and 3 terms in architectur in Iceland University of Arts in year 2015. She has worked in marketing and design for Arctic Sea Minerals. She is one of the owners and designer of Happy Furniture which is acompany that specializes in "tailor-made" furniture espesially woodentables. With her husband she runs a farm on the vulcanic island La Palma where they grow Avocado and other tropical fruites and live part of the year.

Hafrún Eva Arnardóttir, nutrition advicer regarding marketing of Lifesalt
Hafrún graduated with M.Sc. in nutrition from University of Iceland in year 2005 and as B.Sc. biologist in year 1998. She also graduated with diploma in marketing management from University of Iceland in 2016. She has a carrier as teacher in Borgarholtskóli college in natural science cources in years 2005-2022 and as researcher in Keldur biological research institute in years 1998-99.

The risks involved in participating in equity crowdfunding

How risky are startups?

Very! You should only invest an amount that you can afford to lose. Don't invest so much that it affects your lifestyle or retirement plans. This investment is much riskier than a public company listed on the stock market. It is quite possible that you will lose the amount you invested for.

Legal disclaimer

Your pledge to the project with a request to purchase shares in the company is subject to the final purchase agreement between the investor and the company itself, and the contract is irrelevant to Karolina Fund. Laws and regulations on general public offering of securities do not apply to pledges where, among other things, amount limit is in all cases below 1,000,000 Euros as a whole, then the company sets a maximum on the size of the holding, which in total can never be higher than 10% of its total share capital. Investing in shares always involves financial risk, such as the risk of little or no return or the loss of the investment. For supporters/investors, the importance of getting to know the company and its financial information is urgent, but the risk associated with investing in shares of start-up companies is generally very risky. Information on the site is published for informational purposes only and should not be considered as an offer or advice on the purchase, sale or other disposition of specific financial instruments. Karolina Fund is not responsible for possible errors in the information and/or decisions based on it.