JK Just Kitchen Holdings Corp

The Company has Signed a Commercial Agreement with President Chain Store Corporation, which is a large Asian Food Production Company that Manages and Operates all 7-Eleven Locations in Taiwan

VANCOUVER, BC, Feb. 22, 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 that is has entered into a commercial arrangement (the "Agreement") with President Chain Store Corporation ("7-Eleven Taiwan"), which is a large food production company with operations across Asia that manages and operates all 7-Eleven convenience stores in Taiwan, Republic of China ("Taiwan").¹ Subject to the terms and conditions of the Agreement, JustKitchen will work to create fresh meal collaborations with 7-Eleven Taiwan. The Company will also be adding Foodomo, a food delivery business acquired by 7-Eleven Taiwan in 2021, to its roster of third-party service providers.

The Company will initially embark on a pilot project (the "Pilot") to provide Just Kitchen branded meals for sale at a select 7-Eleven Taiwan location in the Neihu District of Taipei. As part of the Pilot, JustKitchen has agreed to also develop a virtual brand that will be offered on 7-Eleven Taiwan's online presence across all its delivery service platforms named "Purchase Famous Cuisines Easily, Just Love Gourmet". The Purchase Famous Cuisines Easily, Just Love Gourmet platform was created to offer consumers a line of quality food products at fair prices and is exclusive to 7-Eleven.² The Pilot with JustKitchen follows other successful collaborations for Purchase Famous Cuisines Easily, Just Love Gourmet in Taiwan.³ The global 7-Eleven brand is prominent in Taiwan, with over 6,400 convenience store locations currently in operation.⁴

"Entering into a commercial arrangement with 7-Eleven Taiwan is a significant development for JustKitchen and, in our view, it brings together two strong operators for the benefit of the end consumer. The Agreement formalizes a great opportunity for us to work with a great partner and yet another a recognizable brand that is well known by people around the world," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "Offering Just Kitchen branded meals within 7-Eleven stores and creating a new delivery-only menu to offer fresh food items on the Purchase Famous Cuisines Easily, Just Love Gourmet platform is also a new challenge because the size and scope of this opportunity for JustKitchen that our team has openly accepted and will strive to execute to both 7-Evelen Taiwan's and the end customers' satisfaction," 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.

CONTACT INFORMATION

Just Kitchen Holdings Corp.
Suite 1430, 800 West Pender Street
Vancouver, British Columbia
V6C 2V6

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 working to create fresh meal collaborations with 7-Eleven Taiwan; adding Foodomo, a food delivery business acquired by 7-Eleven Taiwan in 2021, to its roster of third-party service providers; initially embarking on a pilot project to provide branded meals for sale at a select 7-Eleven Taiwan location in the Neihu District of Taipei; and agreeing to develop a virtual brand that will potentially be offered on 7-Eleven Taiwan's online delivery service platform named Purchase Famous Cuisines Easily, Just Love Gourmet. 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.

Endnotes

1. "President Chain Store Corporation", Wikipedia, last edited December 7^th, 2021, https://en.wikipedia.org/wiki/7-Eleven#Taiwan 
2. "7-Select", 7-Eleven Canada Incorporated, 2022,  https://7-eleven.ca/menu/7-select
3. "7-Eleven's Own Brand 7-SELECT x Top One Pot, Enjoy the tastes of Taiwan in the comfort of your own home", 7-Eleven, Taiwan News, December 11^th 2020, https://www.taiwannews.com.tw/en/news/4075540
4. "I visited 7-Eleven in Taiwan and it's way cooler than convenience stores in the U.S.", Martha Sorren, Insider, March 7^th, 2020, https://www.insider.com/tour-of-7-eleven-in-taiwan-better-than-us#7-eleven-is-one-of-the-many-major-convenience-store-chains-in-taiwan-1

SOURCE Just Kitchen Holdings Corp.