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Home Bistro, Inc. Announces Joint Venture with "Red Velvet NYC"

Adds Ready-Made Desserts to its Menu Offering

MIAMI BEACH, FL / ACCESSWIRE / March 30, 2021 / Home Bistro, Inc. (OTC PINK:HBIS) (the "Company"), a provider of ready-made, celebrity chef inspired gourmet meals, today announced it has partnered with Red Velvet NYC ("Red Velvet"), a subscription-based service specializing in DIY gourmet baking kits. Pursuant to the terms and conditions of the joint venture, Home Bistro will begin offering fully-prepared desserts from recipes created and developed by Red Velvet.

Home Bistro, Inc., CEO Zalmi Duchman stated, "This is a significant step in the evolution of Home Bistro. While the rest of the competition in the ‘heat-to-eat' segment of the meal delivery sector is essentially selling individual niche meals, the Home Bistro platform is delivering a complete home-dining experience to discerning consumers. He added, "As we continue to add menu diversity and choices by expanding our roster of celebrity chefs, we are also focused on developing other meal compliments to round out the complete dining experience. Partnering with an established leader like Red Velvet and adding their delicious gourmet desserts to our menu achieves a critical aspect of this strategy."

Agathe Assouline-Lichten, CEO & Co-Founder of Red Velvet NYC, commented "We are excited to partner with Home Bistro on this new initiative. While Red Velvet's core business is gourmet DIY baking kits, this partnership allows us to broaden our exposure to a whole new audience. The Home Bistro platform and its healthy gourmet meal offering are ideally suited for our dessert treats. We're looking forward to further developing this mutually beneficial relationship."

Home Bistro expects to begin offering, ready-made Red Velvet desserts by July 2021.

About Home Bistro, Inc.

Home Bistro provides a convenient, in-home dining experience, by offering direct-to-consumer, high-quality, celebrity chef inspired meals at www.homebistro.com, including culinary delights developed by "Iron Chef" Cat Cora, and a soon to launch offering by "Hungry Fan" celebrity chef Daina Falk. The Company also offers restaurant-quality meats and seafood through its Prime Chop www.primechop.co and Colorado Prime brands.

About Red Velvet NYC

Red Velvet NYC is the market leader of subscription-based and a-la-carte gourmet DIY baking kits. Founded in 2015 by sisters Agathe and Arielle Assouline-Lichten, Red Velvet NYC helps families celebrate life's most precious moments. To learn more about Red Velvet, please visit www.redvelvetnyc.com.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Company's growth objectives and industry outlook (as described herein). Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements include, among others, statements about the Company's future financial performance, the impact of management changes, any organizational restructuring and the sufficiency of capital resources to fund its ongoing operating requirements; statements about the Company's expectations regarding the capitalization, resources and ownership structure; and any other statements other than statements of historical fact. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that the Company makes due to a number of important factors, including (i) risks related to the combined entity's access to existing capital and fundraising prospects to fund its ongoing operations, and (ii) other business effects, including the effects of industry, market, economic, political or regulatory conditions, future exchange and interest rates, and changes in tax and other laws, regulations, rates and policies, including the impact of COVID-19 on the broader market. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

CONTACT:
Zalmi Duchman, CEO
zalmi@homebistro.com
Ph: 631.694.1111

SOURCE: Home Bistro, Inc.



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