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The Company Gains Access to Over 15,000 Potential Additional Customers Daily via the 101-Storey Building
VANCOUVER, BC, May 18, 2021 /CNW/ - Just Kitchen Holdings Corp. ("JustKitchen" or the "Company") (TSXV: JK) (Frankfurt: 68Z), an operator of ghost kitchens specializing in the development of delivery-only food brands for customers, is pleased to announce that it has recently opened a new ghost kitchen in the world-famous Taipei 101 skyscraper ("Taipei 101") as its 15th location in Taiwan (the "Taipei 101 Location"). On a daily basis, Taipei 101 is a destination for more than 10,000 people who work in the building and over 5,000 visitors who shop in the connected mall and tour its observation decks. As one of only a select few food vendors in the office tower, the Company will be offering customers food from among its current portfolio of 17 proprietary brands and six third-party restaurant menus, while also marketing its JustMarket online grocery business to people in the building as a convenient service to save them an errand on their way home from work.
Broadly considered to be a postmodernist architectural masterpiece by C.Y. Lee and C.P. Wang, Taipei 101 is 101-storey office building and commercial complex that is home to the Taiwan Stock Exchange and over 125 other tenants. Owned by the Taipei Financial Center Corporation, it was the world's tallest building from 2004-2009 until the opening of the Burj Khalifa in Dubai, UAE.
"The opening of our Taipei 101 Location is a great opportunity for JustKitchen to showcase its virtual brands, proprietary technology and operational expertise, while marketing to a captive audience of 10,000 people per day," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "It is fitting for JustKitchen's newest ghost kitchen location to be in a world-class architectural landmark as the Company recently embarked on the first step of its global expansion plan into Hong Kong. We embrace the opportunity to demonstrate our capabilities daily to such a large number of residents and visitors from around the world," added Mr. Chen.
The Company is also pleased to announce that it has opened another new ghost kitchen location in the Nangang area of Taiwan (the "Nangang Spoke"). The Nangang Spoke replaces the Gongguan location at the expiry of its lease agreement, which had repeatedly reached the limit of its electricity infrastructure thereby making it difficult, at certain times, to keep up with customer demand for food orders in the area. The openings of the Taipei 101 Location and the Nangang Spoke occurred on time with the Company's schedule to have 22 ghost kitchen locations operating across Taiwan by the end of 2021.
For more information about Taipei 101, please visit www.taipei-101.com.tw/en/.
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 with plans to expand operations to the United States and 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 ability to commence and maintain operations in Taipei 101 and at the Nangang Spoke; the Company's ability to offer food from among its 17 proprietary brands and six partner restaurant menus as well as the Company's ability to successfully operate its JustMarket business within Taipei 101 and within the Nangang area. 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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