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TSXV: JK OTCQB: JKHCF FRA: 68Z
The Company Will Operate a Ghost Kitchen within Jialong Technology to
Provide Catered Food for Corporate Employees as well as Branded Meals
to Other Huanke Road Manufacturers
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 an exclusive ghost kitchen location at Jialong Technology Inc. (" JT ") within the Taoyuan Environmental Science and Technology Park (the " Taoyuan Tech Park "), which is the only area of its kind in Northern Taiwan . The Company will also provide JustKitchen-branded meals to other manufacturers located in the Taoyuan Technology Industrial Zone. Located in the Gold Coast area of Guanyin District, Taoyuan City, the Taoyuan Tech Park's key areas of focus include the manufacturing of electrical and electronic equipment, metal and machinery.
The level of local demand for catered food has been assessed by Company management as high, and JustKitchen will be the only vendor working to provide ready-to-eat meals to Huanke Road manufacturers in the Taoyuan Technology Industrial Zone. Similar to the Company's recently announced arrangements in the Hsinchu Science Park, the exclusive location within JT's offices positions JustKitchen to further expand its business-to-business service offering. Pursuant to the terms of the commercial arrangement, JT will provide all capital expenditures for the ghost kitchen while the Company will pay JT for rent, water and electricity via a profit-sharing mechanism.
The Taoyuan Tech Park is a newer, ecologically focused industrial zone that is approximately 77 acres in size. It is situated on a beautiful coastline and its surrounding environment, landscape and seaside features offer an enriching environment that foster professional ingenuity and technological innovation. The Taoyuan Tech Park is located across Baiyu Lane, Guanyin Lane and Dataan Lane, Guanyin District, Taoyuan City. The north of the Guanyin Urban Planning Area is Baiyu District, the south is Tangwei District, and it is adjacent to the Dataan Binhai Industrial Special Zone.
Management Commentary
"Securing an exclusive ghost kitchen location within the Taoyuan Tech Park and being able to provide a high volume of JustKitchen-branded meals to JT's employees, as well as those of other manufacturers in the area by way of remote ordering technology, is yet another opportunity for us to showcase JKOS," said Jason Chen , Co-Founder and Chief Executive Officer of JustKitchen. "This contract allows us to broaden the distribution network of our brands in a way that is light on capital expenditures yet reaches a large number of captive customers. I credit this agility to our maturing tech stack and robust brand portfolio," 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 operating a ghost kitchen within Jialong Technology to provide catered food for corporate employees as well as branded meals to other Huanke Road manufacturers; the level of local demand for catered food being assessed by Company management as high; the exclusive location within JT's offices positioning JustKitchen to further expand its business-to-business service offering; and JT providing all capital expenditures for the ghost kitchen with the Company paying JT for rent, water and electricity via a profit-sharing mechanism. 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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