JK Just Kitchen Holdings Corp

TSXV: JK   OTCQB: JKHCF   FRA: 68Z

The Company's New Brands were Created to Help Meet the Current High Level of Demand for Hot Pot and Pizza Cuisines Across Taiwan

VANCOUVER, BC, Aug. 22, 2022 /CNW/ - 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, is pleased to announce the launch of two new proprietary food brands in Taiwan including C'mon Eat Mini Hot Pot ("C'mon Eat") and Pizza Central NY Style ("Pizza Central"). Pizza Central was launched in mid-June as the Company's first pizza brand, while C'mon Eat was launched in late June.

C'mon Eat offers delivery-only consumers hot pot-based menu items, which are highly popular with over 10,000 outlets serving this type of cuisine in Taiwan. JustKitchen has launched C'mon Eat with a base of Shacha, Japanese and Kimchi soups and a variety of hot pot fillings based on popular public preferences. The new brand is available for order on the JustKitchen app as well as on the Ubereats and Foodpanda platforms. Taiwan's food market is the fifth highest per capita spending on food products and is worth over US$43 billion.¹

Pizza Central is a first-of-its-kind virtual pizza brand for the Company. Over time, Taiwanese consumers have shifted to more varied diets, include an increase in the consumption of western-style foods like pizza.¹ Throughout the COVID-19 pandemic, sales of pizza reached an all-time high in Taiwan. Based on the significant trend, JustKitchen created the virtual brand that can now be accessed by pizza lovers across conveniently via mobile applications. The Pizza Central menu consists of traditional pizzas such as margherita, pepperoni, and cheese, as well as a Taiwanese-inspired pizza called the Konglo. Pizza Central has also been created with families and their children in mind.

Management Commentary

"We are excited about both of the C'mon Eat and Pizza Central brands that we recently launched, because they were created based on strong consumer trends but with a JustKitchen twist. Through these innovative menus, we continue to provide customers with high quality food at a fair price via our unique operating model," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "It's satisfying to have launched a brand that is the first of its kind for JustKitchen like Pizza Central. We love a challenge, and I'm proud of our team for rising to the occasion and achieving this goal," added Mr. Chen.

JustKitchen is primarily a technology-focused and enabled 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, Singapore 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.

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 meeting the current high level of demand for hot pot and pizza cuisines across Taiwan. 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.

1. "Emerging Trends in Taiwan's Food Market," Mersol&Lou, April 14, 2021, https://www.mersolluo.com/emerging-trends-in-taiwan-food-market/

SOURCE Just Kitchen Holdings Corp.