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JustKitchen Increasing to Thailand by way of GrabKitchen Association

JustKitchen Expanding to Thailand via GrabKitchen Arrangement

 TSXV: JK    OTCQB: JKHCF    FRA: 68Z

Customers in Thailand Will Quickly Be Capable of Get pleasure from JustKitchen’s Personal Grasp Don, Okay.Bao and Bodyfit Supply-Solely Manufacturers

VANCOUVER, BC, Sept. 26, 2022 /CNW/ – Simply Kitchen Holdings Corp. (“JustKitchen or the “Firm”) ( TSXV: JK) (OTCQB: JKHCF) (FRA: 68Z), an operator of ghost kitchens specializing within the growth of delivery-only meals manufacturers, proclaims the enlargement of JustKitchen’s in-house manufacturers to Thailand (the “Thailand Location“) by way of GrabKitchen. For the Thailand Location within the Phayathai space of Bangkok, GrabKitchen is offering the bodily kitchen on a Kitchen-as-a-Service (“KaaS“) foundation. The Thailand Location is located close to a busy commuter rail hub that’s supplemented by a gradual movement of different visitors. As beforehand introduced in April, the Firm hasa partnership with GrabExpress Inc. (“Seize“) in the Philippines that permits it to entry GrabKitchen and GrabFood sources.

Instantly upon opening, the Thailand Location will serve JustKtichen’s Grasp Don meals model, adopted shortly thereafter by the Okay.Bao model, that includes a personalized menu with a neighborhood twist, in addition to the Bodyfit model. The Southeast Asian on-demand meals supply market is experiencing a excessive annual progress price of 14%, which suggests that the market will finally attain a complete worth of $49.7 billion by 2030.

Seize is southeast Asia’s main ‘tremendous app’ primarily based on gross merchandise worth in 2021 in every of meals delivers, mobility, and the e-wallets section of economic companies, in accordance with Euromonitor.2

Administration Commentary

“Worldwide enlargement is crucial to our firm’s progress plan, however additionally it is a possibility to be taught from the locals in every new market. In Thailand, the meals supply market is mainstream and rising, which is one thing we plan to check very rigorously and hopefully grasp as effectively,” stated Jason Chen, Co-Founder and Chief Government Officer of JustKitchen. “Folks in Thailand need entry to new and thrilling meals which might be inexpensive and handy. We’re aiming to supply precisely that to them,” added Mr. Chen.

ABOUT JUSTKITCHEN

Simply Kitchen Holdings Corp. (the “Firm” or “Simply Kitchen“) is primarily an operator of ghost kitchens specializing within the growth and advertising of proprietary and franchised delivery-only meals manufacturers for purchasers and companies. The Firm at present operates in Taiwan, Hong Kong, the Philippines and Malaysia. It has additionally signed an settlement that can permit JustKitchen to promote a number of of its proprietary meals manufacturers in Japan and it has additionally signed a model swap settlement in India. The place applicable, JustKitchen makes use of a hub-and-spoke working mannequin, which options superior meals preparation happening at bigger hub kitchens and ultimate meal preparation happening at smaller spoke kitchens positioned in areas with greater inhabitants densities. The Firm combines this working mannequin with on-line and cell application-based meals ordering by way of its proprietary cell meals ordering app and different third-party ordering apps. Supply is fulfilled by third-party supply corporations, to attenuate capital investments and working bills and attain extra prospects in underserved markets. The Firm’s different enterprise, JustMarket, is an e-commerce grocery supply platform that permits prospects to buy groceries for supply or add choose grocery gadgets to meals ordered via JustKitchen.

For extra details about the Firm, please go to traders.justkitchen.com. JustKitchen’s ultimate prospectus, monetary statements and administration’s dialogue and evaluation, amongst different paperwork, are all obtainable on the Firm’s profile web page on SEDAR at www.sedar.com.

Neither the TSXV nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSXV) accepts accountability for the adequacy or accuracy of this launch.

FORWARD-LOOKING STATEMENTS

This information launch incorporates sure “forward-looking statements” throughout the which means of such statements beneath relevant securities legislation. Ahead-looking statements are continuously characterised by phrases akin to “anticipates”, “plan”, “proceed”, “count on”, “undertaking”, “intend”, “consider”, “anticipate”, “estimate”, “could”, “will”, “potential”, “proposed”, “positioned” and different related phrases, or statements that sure occasions or situations “could” or “will” happen together with however not restricted to the Firm’s feedback concerning shoppers in Thailand quickly having the ability to get pleasure from JustKitchen’s personal Grasp Don, Okay.Bao and Bodyfit delivery-only manufacturers; and GrabKitchen offering the bodily kitchen for the Thailand Location on a Kitchen-as-a-Service foundation. These statements are solely predictions. Numerous assumptions have been utilized in drawing the conclusions or making the projections contained within the forward-looking statements all through this information launch. Ahead-looking statements are primarily based on the opinions and estimates of administration on the date the statements are made and are topic to a wide range of dangers, together with these threat components recognized within the Firm’s prospectus dated March 26, 2021, and uncertainties and different components that would trigger precise occasions or outcomes to vary materially from these projected within the forward-looking statements. The Firm is beneath no obligation, and expressly disclaims any intention or obligation, to replace or revise any forward-looking statements, whether or not because of new data, future occasions or in any other case, besides as expressly required by relevant legislation.

ENDNOTES

  1. “On-demand Meals Supply Companies: Subsequent Progress Frontier in Southeast Asia“, Vacation spot Thailand Information, February 18, 2022, https://destinationthailandnews.com/news/headline-news/on-demand-food-delivery-services-next-growth-frontier-in-southeast-asia.html
  2. “Seize Holdings Inc in Mobility”, August 2021, Euromonitor, accessed on September 15, 2022, https://www.euromonitor.com/grab-holdings-inc-in-mobility/report 

SOURCE Simply Kitchen Holdings Corp.

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For additional data: Simply Kitchen Holdings Corp., Suite 1430, 800 West Pender Avenue, Vancouver, British Columbia, V6C 2V6; Nick Kuzyk, Investor Relations, Toll-Free: 1-855-JST-KCHN (1-855-578-5246), E mail: [email protected]

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