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The Licensing Agreement with REEF Technology Gives the Company the Virtual Rights to One of the Most Popular Delivery - Only Food Brands for its Growing Network of Delivery Kitchens in Multiple Markets
TSXV: JK OTCQB: JKHCF FRA: 68Z
Just Kitchen Holdings Corp. ("JustKitchen" or the "Company") (TSXV: JK) (OTCQB: JKHCF) (FRA: 68Z), an operator of delivery kitchens specializing in the development of delivery-only food brands, is pleased to announce that it has entered into a licensing agreement with the largest operator of delivery kitchens, logistics, and proximity hubs in North America REEF Technology Inc., for the virtual branding rights to DJ Khaled's "Another Wing" brand. JustKitchen has been selected by REEF as its preferred partner for the launch of the Another Wing brand in South-East Asia . The brand will be rolled out in multiple phases beginning with 16 of JustKitchen's delivery kitchen locations in Taiwan in December, followed by its two locations in Hong Kong in January.
"We are very excited for JustKitchen to be the first company to introduce not just a great restaurant brand, but a pop culture phenomenon, to Asia . This is exactly the goal that our Company set out to accomplish – to make this otherwise inaccessible food brand and its products available to the millions of followers of DJ Khaled in Taiwan and Hong Kong ," said Jason Chen , Co-Founder and Chief Executive Officer of JustKitchen. "This brand participation partnership with REEF is commercially valuable to us. I am proud of our team for working hard to cement this initiative, which is a testament to our successful track record of licensing valuable global brands and bringing them to new audiences through JustKitchen's unique operating model," added Mr. Chen.
Created in association with Grammy award-winning music producer DJ Khaled, Another Wing was launched by REEF in November. It is the first restaurant concept to ever have launched on three continents at one time. The Another Wing menu features boneless and bone-in wings, with seven flavours inspired by some of DJ Khaled's biggest catchphrases including but not limited to "Don't Quit Nashville Hot," "Un Un Un Believable Buffalo," "You Loyal! Lemon Pepper," "Honey! Honey! Hot Honey Sriracha," and "They Don't Want You To Win Buffalo."
Inclusive of JustKitchen's locations in Taiwan and Hong Kong , these brands are being offered by REEF on four continents, from over 165 locations including the United States , the United Kingdom , Canada , France and the United Arab Emirates . DJ Khaled is a world-famous celebrity with a YouTube channel that has approximately 11.9 million subscribers and 5.6 billion total views to date.
ABOUT REEF
REEF transforms urban spaces into community hubs that create jobs and bring new goods, services and experiences to the neighborhood. With an ecosystem of 5,000 locations and a team that's over 18,000 strong, REEF is the largest operator of parking real estate and delivery restaurants in North America . By connecting the world to your block, we're making the place you live, the place you love to be.
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 rolling out of the Another Wing brand in multiple phases beginning with 16 of JustKitchen's locations in Taiwan in December followed by its two locations in Hong Kong in January; being the first company to introduce not just a great restaurant brand, but a pop culture phenomenon, to Asia ; and making this otherwise inaccessible food brand and its products available to the millions of followers of DJ Khaled in Taiwan and Hong Kong . 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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