JustKitchen Launches "Co-Op" as a Collaborative Culinary and Dine-In Experience in Taiwan

TSXV: JK OTCQB: JKHCF FRA: 68Z

Local Consumers Can Also Now Enjoy the "Let's Eat" Brand that the Company Launched in October with "Hi! Come in", the Hit Reality TV Show on Netflix Taiwan, as well as the Recently Launched "Koko-Bap" Korean Bibimbap Brand

VANCOUVER, BC, Dec. 12, 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, announces that it has recently launched "Co-Op: The Future Food Hall by JustKitchen" ("Co-Op"), which is a collaborative culinary and dine-in experience in Taipei, Taiwan. Second, the Company announces the launch of a new food brand named "Let's Eat" in collaboration with the hit show "Hi! Come In" (the "Show") on Netflix in Taiwan. Third, JustKitchen has launched the Koko-Bap Korean bibimbap proprietary food brand ("Koko-Bap").

Co-Op is a communal virtual food court where culinary professionals and virtual restaurant operators can collaborate. Consumers in Taiwan can now pick-up JustKitchen food items and sit in the communal dining area, among chefs and other aspiring culinary professionals as they develop new ideas. One location opened in November in the Neihu Science Park (the "Neihu Location") and the other within the communal lounge at Hotel Episode in the HsinZhu Science Park (the "Hotel Episode Location"). Based on the success of many of the Company's delivery-only food brands in Taiwan, Co-Op was launched to give its proprietary and partner menus a physical space for customers to enjoy them.

Co-Op is the Company's first proprietary virtual food court that it has launched. JustKitchen is acting on a plan to expand from an exclusively virtual business to now include virtual food courts and select dine-in locations, where appropriate. The Neihu Location is considered a hybrid Spoke, where kitchen facilities can be used for pop-up events or celebrity chef exhibitions, with both delivery-based operations and dine-in experiences also offered. Co-Op is affiliated with Westwood Social, which is located in the Hotel Episode Location. Westwood Social, in collaboration with Chef Richie Lin and Riant Capital, opened in the Hotel Episode Location on November 20th and its delivery services to be provided in collaboration with JustKitchen.

The Company recently launched the "Let's Eat" virtual food brand in collaboration with the hit reality show "Hi! Come In" on Netflix in Taiwan. "Hi! Come In" follows Taiwanese celebrities working together to convert old houses into restaurants. "Let's Eat" food items featured on "Hi! Come In" are offered to customers so they can watch the Show and enjoy the same food simultaneously. JustKitchen prepares the Let's Eat menu in 13 of its ghost kitchen locations and orders can be placed by customers through Foodpanda.

Koko-Bap is a new proprietary food menu with items that primarily feature rice, a variety of key ingredients including kimchi, eggs, vegetables and meats, and a unique Korean-style sauce that can be customized by consumers. Koko-Bap was launched by the Company in Taiwan in November and JustKitchen is also working to tailor a Koko-Bap menu for the Hong Kong market shortly. The Company also plans to launch Koko-Bap in Malaysia, Thailand and the Philippines in the near future.

"Co-Op is an exciting new concept that we are happy to have launched for the benefit of both chefs and consumers alike. Giving customers dine-in access to our virtual brands while observing culinary collaborations occurring in real-time is an idea that we are keen to see flourish," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "Also, the launch of the "Let's Eat" and "Koko-Bap" food brands are further examples of how our team continues to innovate. Working with the team from the hit "Hi! Come In" reality TV show is an honour and we look forward to more collaborations like this in the future," added. Mr. Chen.

Just Kitchen Holdings Corp. (the "Company" or "Just Kitchen") is primarily an operator of ghost kitchens specializing in the development and marketing of proprietary and franchised delivery-only food brands for customers and businesses. The Company currently operates in Taiwan, Hong Kong, the Philippines and Malaysia. It has also signed an agreement that will allow JustKitchen to sell several of its proprietary food brands in Japan and it has also signed a brand swap agreement in India. Where appropriate, JustKitchen 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 via its proprietary mobile food ordering app and other third-party ordering apps. Delivery is fulfilled by third-party 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 acting on a plan to expand from an exclusively virtual business to now include virtual food courts and select dine-in locations, where appropriate; and planning to launch Koko-Bap in Malaysia, Thailand and the Philippines in the near future. 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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