JustKitchen Holding Corp (OTCMKTS:JKHCF) (TSXV:JK) Stock Continues to Trade in a Range
JustKitchen Holding Corp (OTCMKTS:JKHCF) (TSXV:JK) is moving in a range after the company signed a preferred partner licensing deal with a leading dark kitchen operator to license around twenty of the Licensor’s current outlets in the Asia-Pacific territory in preferred conditions regarding licenses fees and first refusal rights to license dark kitchen sites.
Market Stats
On Thursday, JKHCF stock ended flat at $0.8080 with more than 7.14k shares, compared to its average volume of 6.18K shares. The stock has moved within a range of $0.8080 – 0.8080 after opening trading at $0.8080.
JustKitchen Signs Preferred Licensing Agreement with Global Dark Kitchen Operator for up to 20 APAC Locations
Each registered dark kitchen site has a three-year tenure, bound by conditions and terms of the Agreement.
Interestingly, JustKitchen anticipates the first six Singapore site permits to be executed soon, with the initial two locations anticipated to be permitted by mid-March. As a result, a target timeframe for the Company to be operating in the incremental market is set in Q2 2022. JustKitchen will quickly and cost-effectively establish ghost kitchens in prime locations across additional jurisdictions as a result of the Agreement. Given the Licensor’s extensive service area, this Agreement allows JustKitchen to implement its expansion strategy on favorable terms in various jurisdictions if management elects so. Therefore, JKHCF is worth watching.
Key Quote
“The signing of this Agreement on preferred terms expedites JustKitchen’s entry into the Singapore market, which follows our entry into Hong Kong and soon to be Philippines from our home base in Taiwan. We expect to launch our first ghost kitchens with a selection of our best proprietary menus and partner food brands and our business development team will be working to secure licenses for the virtual food rights to local hero brands in Singapore as well,” said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen.
