Proprietary App Harnesses Data to Enhance Marketing and Optimize Operations while Supplementing Business Conducted on Third-Party Platforms
TSXV: JK
VANCOUVER, BC, April 26, 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 across Taiwan, is pleased to announce that it has recently launched its proprietary consumer-facing mobile application (the "JustKitchen App"), through which customers can order food items from the Company's ghost kitchens, among other features. The Company expects to use the JustKitchen App and its data to optimize operations and extend the value chain, by fulfilling orders directly from its nearest spoke kitchen location to the customer via last-mile delivery service providers through system integration. Orders received through the JustKitchen App will supplement those generated on third-party platforms and are expected to result in higher gross margins for the Company by eliminating service commissions. The JustKitchen App is now available for download from the Apple App Store for iOS devices and the Google Play Store for Android devices.
"The launch of our own consumer-facing mobile application is a significant step in the execution of the Company's competitive strategy and becoming more vertically integrated," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "The JustKitchen App enables us to directly communicate with and market to our customers and enrich our customer relationship management. Further, it provides us with the ability to harness more data to further improve the efficiency and cost-effectiveness of our supply chain. Our vision for the JustKitchen App is that it will enable customers to order hot food items, order groceries, earn loyalty rewards, sign up for subscription plans and otherwise enjoy increased levels of engagement with JustKitchen through gamification," added Mr. Chen.
Frankfurt Stock Exchange Listing & Marketing Services
The Company is also pleased to announce that it recently received approval from the Börse-Frankfurt Exchange (the "Frankfurt Exchange") for its common shares to commence trading under the securities identification code "WKN: A3CMCR " and the ticker symbol "68Z", which began on April 20, 2021. The Frankfurt Exchange is the world's third largest organized exchange-trading market in terms of turnover and dealings in securities and the world's 12th largest stock exchange by market capitalization. There are over 3,000 international companies listed on the exchange and investors directly connected to the Frankfurt Exchange represent 35% of the world's investment capital.
Additionally, JustKitchen is pleased to announce that it has recently retained Hybrid Financial Ltd. ("Hybrid") to provide marketing services to the Company with the goal of creating heightened awareness of JustKitchen and its brand in the market and achieving a broader reach through education across the investment community (the "Services"). Hybrid has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange (the "TSXV") in providing the Services. Hybrid has been engaged by the Company for an initial period of six months (the "Initial Term"), which then shall be renewed automatically for successive monthly periods thereafter unless terminated by the Company in accordance with the agreement. Hybrid will be paid a monthly cash fee of $15,000, plus applicable taxes, during the Initial Term. The Services are being provided at an arm's length as JustKitchen and Hybrid are unrelated and unaffiliated entities. Hybrid will not receive shares or options as compensation for the Services and it currently does not own any securities of the Company.
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 across Taiwan. 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 ability to earn higher gross margins, improve operations and lower costs as the result of the launch of its proprietary mobile application; and its ability to integrate systems within the Company and to external parties. 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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