JustKitchen Announces Opening of Second Hong Kong Location and Sanchong Ghost Kitchen in Taiwan

TSXV: JK   OTCQB: JKHCF   FRA: 68Z

The Company Has Also Launched a Food Truck Featuring DJ Khaled's "Another Wing" Food Brand and is Planning to Open Two New Ghost Kitchen Locations in Taiwan in the Near Future

Just Kitchen Holdings Corp. ("JustKitchen" or the "Company") (TSXV: JK) (OTCQB: JKHCF) (FRA: 68Z) an operator of ghost kitchens specializing in the development of delivery-only food brands, is pleased to announce the opening of its second location in the affluent Mid-Levels residential area of Hong Kong (the " Mid-Levels Spoke "). JustKitchen has begun by offering consumers the "Formosa Chang" and " Dan Ryan's Chicago Grill" brands, among others, with other proprietary menus and partner food brands expected to be added over time. The Company has also recently acquired the virtual branding rights to "Little Mario's Italian Pizzeria" a local hero brand with multiple locations across Hong Kong . JustKitchen is working to offer the brand to delivery-only consumers in the region in the near future.

In Taiwan , JustKitchen has also recently opened its previously announced Sanchong ghost kitchen, which is the first to feature a new design with expanded workstations to accommodate new brands and with the ability to scale easily. Based on the Company's direct operational experience, new locations are being configured with specialized areas for improved efficiency and output. JustKitchen's cooks are being cross-trained to make food for multiple brands, with resources and equipment further optimized to reduce waste. Inclusive of the Mid-Levels and Sanchong locations, the Company currently has 23 ghost kitchen locations in aggregate operating in Taiwan and Hong Kong .

On January 22, 2022 , JustKitchen launched a food truck featuring DJ Khaled's "Another Wing" brand on a pop-up basis in the Xinyi district of Taipei City. The food truck will be stationed in a central location in the nightclub district on a nightly basis and will be open during peak hours. Additionally, on February 10, 2022 , JustKitchen has scheduled the opening of two additional ghost kitchen locations. The new locations have been strategically selected to be located in Xindian, New Taipei City and the Ren'ai District of Taipei City, given that one-third of Taiwan's population resides in Taipei and New Taipei City.

"We are excited to open our second location in Hong Kong and new ghost kitchen in Taiwan , as well as to make our proprietary food menus and partner brands like DJ Khaled's "Another Wing" available to more customers especially via a new food truck concept for JustKitchen and to strengthen our overall competitive position in the industry," said Jason Chen , Co-Founder and Chief Executive Officer of JustKitchen. "The power of JustKitchen's business model lies in our ability to launch brands from across the globe at a high rate of speed and consistency. Our goal has always been to provide high quality delivery-only food to the people of Taiwan and eventually across the Asia Pacific region in a convenient yet desirable fashion, and we feel that these next steps are helping to do just that," added Mr. Chen.

ABOUT JUSTKITCHEN

JustKitchen is primarily an operator of ghost kitchens specializing in the development and marketing of proprietary and franchised delivery-only food brands for customers. The Company currently operates in Taiwan and Hong Kong with plans to expand operations to other Asian countries. JustKitchen uniquely utilizes a hub-and-spoke operating model, which features advanced food preparation taking place at larger hub kitchens and final meal preparation taking place at smaller spoke kitchens located in areas with higher population densities. The Company combines this operating model with online and mobile application-based food ordering fulfilled by third-party delivery companies, to minimize capital investments and operating expenses and reach more customers in underserved markets. The Company's other business, JustMarket, is an e-commerce grocery delivery platform that allows customers to purchase groceries for delivery or add select grocery items to meals ordered through JustKitchen.

For more information about the Company, please visit investors.justkitchen.com. JustKitchen's final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on the Company's profile page on SEDAR at www.sedar.com .

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur including but not limited to the Company's comments regarding the opening of three new ghost kitchen locations in Taiwan in the near future; the addition of other proprietary menus and partner food brands to the Mid-Levels Spoke over time; and working to offer the Little Mario's Italian Pizzeria brand to delivery-only consumers in Hong Kong in the near future. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks, including those risk factors identified in the Company's prospectus dated March 26, 2021 , and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Just Kitchen Holdings Corp.

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