THE PROVENANCE CHAIN NETWORK PARTNERS WITH LEONID TO HELP EXPAND OPERATIONS

LEONID to Provide $5M in Contract Finance for Added Financial Flexibility

PORTLAND, Ore. and HUNTINGTON BEACH, Calif., Sept. 14, 2022 /PRNewswire/ -- The Provenance Chain™ Network (PCN), developer of the Commercial Trust™ Protocol, today announced a partnership with LEONID, a financial services platform supporting U.S. Federal Government contractors. Through the partnership, LEONID will provide PCN with a $5M revolving line of credit used to help fuel the company's operational and growth objectives.

"As a Department of Defense Trusted Capital Provider, we specialize in bespoke contract-based financial services. Given PCN's incredible growth and inroads into the U.S. Federal Government—we are well-aligned," said Chris Lay, CEO of LEONID. "PCN wants to expand and can now easily do so by leveraging our credit facility while avoiding taking any further equity dilution of its shareholder base."

PCN's partnership with LEONID also allows the company to prepare for known costs and not react in a way that would limit financial flexibility while allowing them to leverage contract assets to expand operations.

"Our relationship with LEONID will help us expand operations within a highly critical and dynamic supply chain environment," said Jeff Gaus, PCN CEO. "This capital facility ultimately helps us bring mission-critical, data security to market more quickly, making our customers' operations – and this Nation – more secure."

LEONID is a financial services platform supporting U.S. Federal Government contractors. As an official Department of Defense Trusted Capital Provider, LEONID offers advance financing on US Federal Government contracts up to $25,000,000. The firm can help companies improve their working capital position to help finance growth strategies and manage operating expenses. LEONID contributes 50 percent of net profits to mission-oriented charitable causes that are committed to veterans' causes and warfighter support. Learn more at, leonidfinance.io

The Provenance Chain™ Network (PCN) is defining and ushering in a new era of consumer and commercial transparency to satisfy people's fundamental right to know the facts about what they buy, consume, and use. The platform is quickly becoming the system of evidence supporting company claims and revealing product lifecycle stories. Transparency as a Service (TaaS) platforms provide businesses and consumers with a more trusted way to make the best decisions about the supply chains that serve them. For more information, visit www.theprovenancechain.com

SOURCE LEONID

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