JustKitchen Becomes Exclusive Fresh Meal Partner with Uber Eats Mart in Taiwan

The Company has also Secured Product Placements for its Delivery-Only Food Brands on the "All-Star Sports Day" Reality TV Show

VANCOUVER, BC, Feb. 8, 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 it has entered into a commercial arrangement to be the exclusive fresh meal provider to Uber Eats Mart ("Uber Mart") in Taiwan. Launched in the third quarter of 2021, Uber Mart currently has five delivery-only locations, otherwise known as dark stores, that can be reached by 90% of the over 6.5 million people in the combined cities of Taipei and New Taipei. JustKitchen first expects to begin collaborative operations with one Uber Mart location in the center of Taipei, with the remaining Uber Mart locations to follow in the near future. Uber Eats, the parent company of Uber Mart, is among the world's largest and fastest growing food-delivery services.¹ 

Initially, JustKitchen is working to provide Uber Mart with six different fresh-made sandwiches daily, with the goal of supplying more cold and lightly cooked food items in due course. Based on data provided to the Company by Uber Mart, consumer trips have increased eight-fold from August 2021 to December 2021 with sales increasing at a similar rate over that period. In the near future, Uber Mart is planning to open a sixth dark store location in Taiwan. Accordingly, JustKitchen is looking forward to launching the initiatives under this arrangement and expanding on it with Uber Mart over time.

Additionally, JustKitchen has secured product placements for its delivery-only food brands on the upcoming season of the All-Star Sports Day television program. All-Star Sports Day is a reality show that is currently entering its third season, on which local celebrities compete in athletic competitions. It is one of the highest rated shows in Taiwan with up to 462, 000 viewers per episode. At the mid-point of this season, a live episode will be broadcast from the Taipei Arena that will include a three-minute video advertisement by the Company, featuring MrBeast Burger or another one of its other popular food brands.

"The arrangement with Uber Mart is a great opportunity for JustKitchen to work with part of a business and brand that is known worldwide for delivering food to a large number of consumers on a daily basis. Establishing this relationship and adding it to our proven track record of working well with global businesses is a significant achievement for our commercial team", said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "We are also excited that JustKitchen will get a new and different kind of exposure for its delivery-only food on reality TV. We expect that the product placements will resonate well with people and will encourage them to become regular customers of JustKitchen's wide range of both proprietary and partner menus," 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 the beginning of collaborative operations with one Uber Mart location in the center of Taipei, with the remaining Uber Mart locations to follow in the near future; providing Uber Mart with six different fresh-made sandwiches daily, with the goal of supplying more cold and lightly cooked food items; launching the initiatives under the arrangement and expanding on it with Uber Mart over time; and including a three-minute video advertisement by the Company, featuring MrBeast Burger or another one of its other popular food brands, during the live episode of All-Star Sports Day will be broadcast from the Taipei Arena. 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. "Uber's Secret Gold Mine: How Uber Eats Is Turning Into A Billion-Dollar Business To Rival Grubhub", Forbes, Biz Carson, February 6^th, 2019, https://www.forbes.com/sites/bizcarson/2019/02/06/ubers-secret-gold-mine-how-uber-eats-is-turning-into-a-billion-dollar-business-to-rival-grubhub/?sh=65bfece11fa9

SOURCE Just Kitchen Holdings Corp.

Just Kitchen Holdings Corp., Suite 1430, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6, Nick Kuzyk, Investor Relations, Toll-Free: 1-855-JST-KCHN (1-855-578-5246), Email: [email protected]