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
VANCOUVER, BC, April 14,
2022 /CNW/ - 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.