JustKitchen Joint Venture will open a location in Manila through an agreement with GrabKitchen

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The company’s partnership with TDG companies has signed with GrabKitchen to operate two sites in The Philippines

VANCOUVER, BC, April 20, 2022 /CNW/ – Just Kitchen Holdings Corp. (“JustKitchen” or the “Company”) (TSXV: JK) (OTCQB: JKHCF) (FRA: 68Z), a technology-driven and empowered ghost kitchen operator specializing in the development of delivery-only food brands, is pleased to announce that its joint venture (the “JV Co.“) with TDG Ventures, Inc. (“TVI“) in The Philippines signed an agreement to open two shadow kitchens in that of the Philippines capital of Manila with GrabExpress Inc.’s global platform (“Grab“) – GrabKitchen for food production and GrabFood for delivery services. Grab is South East Asia the largest mobile technology company that connects millions of consumers to millions of drivers, merchants and businesses.

JV Co. the first slot should open the May 14, 2022 and will operate within the GrabKitchen Glorietta facility, located at Glorietta 2 in a Ayala Shopping Center. The mall is located in the heart of Makati, a city in Metro Manila in the Philippines, which is also the financial center of the country. The location is in an area that is home to skyscrapers and shopping malls known as Makati Central Business District. This district considered as one of the most dynamic commercial districts of South East Asia.1

GrabKitchen will provide the infrastructure for JV Co. on a kitchen as a service (“KaaS“), which will require minimal capital expenditure on the part of JV Co. and can allow multiple locations to be opened in a shorter period of time. KaaS is an operating model that provides an off-the-shelf commercial kitchen to any party that wants to start a new culinary business or expand to a new location without owning a physical location.2

Prior to the launch date of the first location, JustKitchen is currently selecting food menus from its portfolio of approximately 30 proprietary and partner brands, and working to secure the virtual brand rights of local hero brands in The Philippines. The company will provide more information as additional locations are expected to open by now. JV Co. with Grab or other counterparties. Founded in Kuala Lumpur, Malaysia in 2012, GrabKitchen currently has 10 locations in The Philippines. More information about Grab and its locations in the Philippines can be found on its website: https://www.grab.com/ph/

Management commentary

“We are thrilled to announce our first Ghost Kitchen location in The PhilippinesGoing through JV Co. agreement with Grab. With our headquarters in Taiwanestablished operations in hong kongrecent entry into Singapore and adding this vast market to our customer base, we continue to execute our international growth plan to bring JustKitchen’s unique operating model, food brand portfolio and JKOS technology solution to the Asia-Pacific region,” mentioned Jason Chen, co-founder and CEO of JustKitchen. “I want to thank Grab for entering into an agreement with our joint venture with TVI and we look forward to opening these locations. Additionally, we look forward to bringing exciting new brands to The Philippines as well as the integration of ‘local hero’ brands to serve nationally and internationally,” added M.chen.

ABOUT JUSTKITCHEN

JustKitchen is primarily a technology-driven and enabled ghost kitchen operator specializing in the development and marketing of proprietary and franchise-only food brands for delivery to customers. The Company currently operates in Taiwan, Singapore and hong kong with plans to expand its operations to other Asian countries. JustKitchen uniquely utilizes a hub and spoke operating model, which includes advanced food preparation in larger central kitchens and final meal preparation in smaller spoke kitchens located in high-density areas. The company combines this operating model with online and mobile app-based food ordering performed by third-party delivery companies, to minimize capital investment and operating expenses and reach more customers on underserved markets. The company’s other business, JustMarket, is an online grocery delivery platform that allows customers to purchase groceries for delivery or add certain 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 MD&A, 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 press release contains certain “forward-looking statements” within the meaning of such statements under applicable securities laws. Forward-looking statements are often characterized by words such as “expects”, “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “expects”, ” believes”, “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 opening up to five Ghost Kitchen locations with Grab in The Philippines; the opening of the first site on May 14, 2022 within the GrabKitchen Glorietta installation; and GrabKitchen providing the infrastructure for JV Co. on a KaaS basis for minimum capital expenditure of JV Co. to allow multiple locations to be opened in a shorter period of time. 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 press release. Forward-looking statements are based on the opinions and estimates of management as of the date they are made and are subject to various risks, including the risk factors identified in the Company’s prospectus dated March 26, 2021, and the 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 statement, whether as a result of new information, future events or otherwise, except as required by applicable law. expressly requires.

Endnotes

  1. Makati Central Business District“, Wikipedia, Last modification February 3, 2022https://en.wikipedia.org/wiki/Makati_Central_Business_District
  2. “KaaS (Kitchen-as-a-Service), a boon for the risky catering market”, Sonal Mishra, Medium, September 22, 2020https://fabled.medium.com/kaas-kitchen-as-a-service-a-boon-for-the-high-risk-high-failure-restaurant-market-61e23623d356

THE SOURCE Just Kitchen Holdings Corp.

© Canada Newswire, source Canada Newswire English

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