JustKitchen Opens New Ghost Kitchens and Secures More Locations in Hong Kong

JustKitchen Opens New Ghost Kitchens and Secures More Locations in Hong Kong

TSXV: JK OTCQB: JKHCF FRA: 68Z

The Company has also Hired Foodpanda's Former Head of Kitchens & Concepts, Ryan Ching , to be the Managing Director of its Business in the Region

Just Kitchen Holdings Corp. ("JustKitchen" or the "Company") (TSXV: JK) (OTCQB: JKHCF) (FRA: 68Z) a technology focused and enabled operator of ghost kitchens specializing in the development of delivery-only food brands, announces the opening of multiple new ghost kitchen locations in Hong Kong (the " New Locations "). The New Locations include two stalls in the 10-stall Yuen Long shared commercial kitchen facility (the " Facility ") and a site within an office tower in Kwun Tong. JustKitchen has also hired Ryan Ching the former Head of Kitchens & Concepts at Foodpanda, to be the Managing Director of its business in Hong Kong .

JustKitchen (TSXV: JK, OTCQB: JKHCF, FRA: 68Z) (CNW Group/Just Kitchen Holdings Corp.)

Each stall at the Facility is initially offering three food brands: one stall is focused on the Body Fit, Formosa Chang, and BIT Beef Noodle menus, while the other is offering Mr. Beast, Little Mario's Pizza and Inluck Taiwanese cuisine. Allocating certain brands and menus to certain stalls enables JustKitchen to be operate more efficiently and in a specialized manner.

Situated in the North-Western part of New Territories Hong Kong, Yuen Long is one of the fastest growing areas of the country, with a current population of over 500,000 people. 1 Yuen Long is commonly recognized within the top five delivery zones by order volumes on demand-side delivery platforms in Hong Kong .

JustKitchen also opened an additional location in the Kwun Tong area within the Citi Tower building in mid-July. This ghost kitchen has a high proportion of pick-up business and is strategically located to serve the growing office catchment area as part of the Hong Kong government's CBD 2.0 Plan. The Company is also excited to add a newly licensed brand to its portfolio – the local Vietnamese favourite, Bánh Mì Kitchen (" BMK "). The Kwun Tong location offers BMK alongside established consumer favourites, Bodyfit and MrBeast

Other Kitchens

In addition to the New Locations, JustKitchen has secured a lease and a license for delivery for a fully equipped commercial kitchen (" Hub ") in Chai Wan in Hong Kong . At approximately 3,000 square feet, the Hub will be able to support existing and future ghost kitchen locations and also serve as a spoke for the Company in Hong Kong moving forward. The first line of in-house production commenced in late May with all product lines completing this transaction in August. The Hub has been able to achieve food cost reductions to under 30% of net sales and is on track to reach 25% by the end of the calendar year. A spoke situated within the Hub is expected to become operational in early October.

In mid-August, the Company also commenced operations of a pop-up kitchen in Quarry Bay situated within Swire Properties' Taikoo Place office precinct. The commitment of the pop-up kitchen extends up to the end of 2022 with an option to lease in 2023. Bodyfit, MrBeast and BMK are the brands currently offered with plans to rotate and promote new brands on a regular basis.

Managing Director, Hong Kong

To assist with all the growth in Hong Kong , the Company recently hired Ryan Ching as its Managing Director for the region. He is an experienced product and operations leader with a passion for the integration and collaboration of technology; product and design; strategy development; business model innovation; and customer-centric promotion in a diverse global marketplace.

Mr. Ching has 15 years of experience and is also skilled in customer experience design, digital transformation, business planning as well as product optimization across digital, physical and financial products around the world. Mr. Ching has a Bachelor of Commerce and Accounting from the University of Melbourne and an MBA from Melbourne Business School. JustKitchen's management team welcomes Mr. Ching to the Company.

Management Commentary

"We are excited to be expanding our footprint with more ghost kitchens in Hong Kong . It is a growing market for JustKitchen and we have learned a tremendous amount from our existing locations about the region and the consumers there," said Jason Chen , Co-Founder and Chief Executive Officer of JustKitchen.

"Adding Ryan to the JustKitchen team is also exciting as his knowledge and experience in the app-driven foodservice sector in Hong Kong is expected to be quite valuable. We are looking forward to working with him to continue growing the Company and offering our customers innovative food experiences," added Mr. Chen.

Just Kitchen Holdings Corp. (the " Company " or " Just Kitchen ") is primarily an operator of ghost kitchens specializing in the development and marketing of proprietary and franchised delivery-only food brands for customers and businesses. The Company currently operates in Taiwan , Hong Kong , the Philippines and Malaysia . It has also signed an agreement that will allow JustKitchen to sell several of its proprietary food brands in Japan and it has also signed a brand swap agreement in India . Where appropriate, JustKitchen 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 via its proprietary mobile food ordering app and other third-party ordering apps. Delivery is fulfilled by third-party 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 each of the New Locations being planned to initially offer multiple food brands; that allocating certain brands and menus to certain stalls will enable JustKitchen to be operate more efficiently and in a specialized manner; JustKitchen being part of bringing innovative food brands for delivery to Hong Kong's forward-thinking consumers; the new kitchen being able to support existing and future ghost kitchen locations and also serve as a spoke for the Company in Hong Kong moving forward; and Ryan Ching's experience in the app-driven foodservice sector in Hong Kong being expected to be quite valuable. 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.

Endnotes:

  1. "Yuen Long: Market town", Wikiped ia, last edited April 28, 2022 , https://en.wikipedia.org/wiki/Yuen_Long

SOURCE Just Kitchen Holdings Corp.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/November2022/01/c1474.html

News Provided by Canada Newswire via QuoteMedia

JK:CA
The Conversation (0)
JustKitchen Expands B2B and D2C Offerings Through New Arrangements

JustKitchen Expands B2B and D2C Offerings Through New Arrangements

TSXV: JK    OTCQB: JKHCF    FRA: 68Z

Workers and Consumers Now Have More Access to JustKitchen's Meals and Brands as the Company Broadens Both its Corporate Client Base and Convenience-Based Operations

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
JustKitchen Licenses MrBeast Burger and Other Brands from Virtual Dining Concepts for Multiple Asian Markets

JustKitchen Licenses MrBeast Burger and Other Brands from Virtual Dining Concepts for Multiple Asian Markets

TSXV: JK OTCQB: JKHCF FRA: 68Z

Consumers in Taiwan and Hong Kong to Continue Having Access to MrBeast Burger via the JustKitchen App and Third-Party Delivery Service Providers, with the Popular Brand Being Launched by the Company in Malaysia , Philippines and Thailand Later This Year

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
JustKitchen Expanding to Thailand via GrabKitchen Arrangement

JustKitchen Expanding to Thailand via GrabKitchen Arrangement

TSXV: JK OTCQB: JKHCF FRA: 68Z

Consumers in Thailand Will Soon Be Able to Enjoy JustKitchen's Own Master Don, K.Bao and Bodyfit Delivery-Only Brands

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
JustKitchen Adds Famous BistroRYU Black Curry to Brand Portfolio

JustKitchen Adds Famous BistroRYU Black Curry to Brand Portfolio

TSXV: JK    OTCQB: JKHCF    FRA: 68Z

Taiwan Consumers Can Now Access BistroRYU's Black Curry Through Multiple Third-Party Delivery Services

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
JustKitchen Reports Financial Results for Third Quarter Ended June 30, 2022

JustKitchen Reports Financial Results for Third Quarter Ended June 30, 2022

TSXV: JK    OTCQB: JKHCF    FRA: 68Z

Having Surpassed $14 Million in Total Revenue in Fiscal 2022 so far, the Company is Focusing on Widening Margins, Eliminating Excess Costs and Optimizing Operations

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Nextech3D.ai Receives Notice From USPTO To Be Granted Pivotal AI Patent for Generating 3D Models from 2D images

Nextech3D.ai Receives Notice From USPTO To Be Granted Pivotal AI Patent for Generating 3D Models from 2D images

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is excited to announce that U.S. Patent and Trademark Office (USPTO) has informed of their decision to issue a patent for its technology to generate three-dimensional (3D) models from two-dimensional (2D) images. This is another patent which the Company believes is pivotal to Nextech3D.ai's artificial intelligence technology as it builds a moat around its 3D model making for ecommerce business with industry expertise and intellectual property; which includes its GPT AI powered 3D model generation. This patent approval reinforces and validates Nextech3D.ai's commitment to increasing shareholder value by investing in 3D-AI GPT patents and solutions while simultaneously generating millions in annual 3D modeling revenue

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
E-Power Resources Inc. Announces Approval of Deal with Volt Carbon Technologies

E-Power Resources Inc. Announces Approval of Deal with Volt Carbon Technologies

E-Power Resources Inc (CSE: EPR) ("E-Power" or the "Company") is pleased to announce it has issued the first tranche of 1,600,000 shares to Volt Carbon Technologies Inc ("Volt Carbon") as part of the option agreement announced on February 5, 2024.

The Company issued 1,600,000 shares to Volt Carbon on March 21, 2024. The shares are subject to a 4-month hold period. The Company will issue Volt Carbon another 2,500,000 shares when $340,000 is spent on exploration of the Tetepisca Property and a further 2,500,000 shares when the second $340,000 is spent on exploration of the Tetepisca Property. Volt Carbon has agreed to spend the full $680,000 during the 2024 calendar year. Spending the entire $680,000 on exploration of the Tetepisca Property, before December 31, 2024, will give Volt Carbon the right to acquire a 5% interest in the Tetepisca Property, on or before December 31, 2025, for a $1,500,000 cash payment.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Sona Nanotech Updates on Dalhousie Efficacy Study and New NCL Results

Sona Nanotech Updates on Dalhousie Efficacy Study and New NCL Results

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") announces positive interim results from its study with The Giacomantonio Immuno-Oncology Research Group at Dalhousie University (the "Study"). An update received by the Company indicates that all tumors treated within the Study to date with a single Targeted Hyperthermia Therapy ("THT") treatment shrunk within the first 24 hours, with an average reduction in size of 80% compared to matched controls.

Study Principal Investigator, Dr. Carman Giacomantonio, comments, "Our initial assessment documented that in cohorts of seven animals, 7/7 of treated triple negative breast cancer mouse tumors bearing gold nanorods responded with an average reduction in tumor volume of 80% following a single treatment with near infrared light in comparison with untreated 'control' tumors. Interestingly, in all cases we observed responses (tumor shrinkage) in distant, untreated tumors supporting the hypothesis that our observations are consistent with systemic immunogenic responses. This observation will be a significant focus of our research going forward. While we are encouraged by these initial results, there is still significant work to be completed. The studies are designed to enable and identify statistical significance which will be achieved with the completion of the full Study."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
ARway.ai Announces Major 300,000 SQ FT or 30,000 M. Retail Store Pilot of its AR Navigation Platform

ARway.ai Announces Major 300,000 SQ FT or 30,000 M. Retail Store Pilot of its AR Navigation Platform

ARway.ai ("ARway" or the "Company") (CSE:ARWY)(OTCQB:ARWYF)(FSE:E65) is an AI powered Augmented Reality Experience platform with a disruptive no-code, no beacon spatial computing solution enabled by visual marker tracking with centimeter precision is pleased to announce its new partnership with Megatek Albania's leading home improvement and do-it-yourself (DIY) retailer. This groundbreaking collaboration is set to bring an unprecedented retail experience to the Albanian market, beginning with a pilot program at Megatek's expansive flagship store that spans more than 323,000 square feet

The successful implementation of ARway's technology in Megatek's flagship store will pave the way for future deployments across more locations and similar stores, signaling a significant growth and revenue opportunity for both companies.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NEO Battery Materials Announces Change of Auditor to MNP LLP

NEO Battery Materials Announces Change of Auditor to MNP LLP

NEO Battery Materials Ltd. (" NEO " or the " C o mpan y ") ( T S X V : NBM ) ( OTC: NBMFF ), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, is pleased to announce that it has changed its auditors from DeVisser Gray LLP (" Former Auditor ") to MNP LLP (" Successor Auditor "), effective March 19, 2024.

NEO Battery's board of directors accepted the resignation of DeVisser Gray LLP and appointed MNP LLP as the new auditor of the Company, effective March 19, 2024, until the Company's next annual general meeting of shareholders.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

NANALYSIS ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED BEST EFFORTS PROSPECTUS EXEMPT OFFERING PURSUANT TO THE LISTED ISSUER EXEMPTION AND CONCURRENT PRIVATE PLACEMENT

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ./

Nanalysis Scientific Corp. (TSXV: NSCI) (the " Company " or " Nanalysis ") is pleased to announce that it has closed its prospectus exempt offering of units (the " Offering ") and concurrent brokered "best efforts" prospectus exempt offering of units (the " Concurrent Offering" ), as announced on March 6, 2024 . A total of 11,111,110 units (the " Units ") were issued at a price of $0.45 per Unit for gross proceeds of $4,999,999.50 . A total of 8,888,888 Units were issued pursuant to the Offering and 2,222,222 Units were issued pursuant to the Concurrent Offering.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×