Publicly Listed Merchant Bank Providing Capital and Expertise to Early-Stage Cannabis Companies

CBi2 will provide capital investment to passionate entrepreneurs who think differently, move quickly, and are committed to leading the cannabis industry’s global evolution.

CBi2’s Cannabis Accelerator


At CBi2, we are offering investors exposure to a diversified and professionally managed portfolio of early-stage investments in the evolving global cannabis market. We believe cannabis is the next investable market and represents a unique opportunity to capitalize on a new industry with already established demand.


Public Merchant Bank Providing Capital To Early-Stage Cannabis Companies
CBi2 will provide capital and expertise to high growth, early-stage companies in the cannabis industry (from cultivators to other ancillary products and services)


Bring Capital & Expertise To Competent Teams With Unique Business Ideas
Working closely with our portfolio companies, we will finance the most promising early-stage companies and position them for a successful exit


Cannabis Is The Next New Market
Unique opportunity to participate in a new market with already established demand that lacks business and financial expertise


Initial Focus On Canada, Europe With An Eye On The U.S.
Legalization is coming to Canada and market demand is expected to increase 9.0x by 2021 - Canadian operators will be global leaders


Team With Significant Cannabis Experience
More than legal and corporate finance professionals, the team has considerable experience within the cannabis sector


Investments That Can Generate 10x ROI Within 3 Years
Ground floor investments in unique opportunities leveraging our experience to quickly create scale and barriers to entry while positioning for an exit

Strategic Benefits



CBi2 believes that, as owners of the companies we invest in, it is our responsibility to provide more than just capital

Build a Complete Team

We will look to partner with highly competent entrepreneurs and leverage our expertise and industry relationships to build a complete team with a skilled and active board of directors.

Strategy and Execution

Our extensive experience working with embryonic start-ups and our hands-on approach will ensure our portfolio companies develop clear and realistic strategies and ensure capital is deployed effectively and costs are managed.

Business Development

Ensure our portfolio companies complete accretive acquisitions by leveraging our significant access to deal flow and our extensive experience in identifying, screening, and evaluating acquisition opportunities.

Positioning an Exit

Raising capital and positioning for an exit are crucial for start-up companies. The team at CBi2 are capital markets experts and specialize in strategic financing and understand how to position a company for a successful exit.

Investment Criteria

CBi2 is focused on early-stage investments characterized by exceptional management teams capable of creating significant scale in a business, with an eye to the following criteria.


Potential to build a company that is an attractive acquisition target or has the potential to realize a premium market valuation


Ability to quickly create scale in the business and profitably gain market share


Invest in businesses with reasonable and justifiable valuations


Clear visibility to near-term positive free cash flow


Top-tier management teams with proven track records and equity alignment


Large feasible market with strong operating margins


Ability to identify and understand and ultimately mitigate the risks inherent in the business


Competitive advantages with significant barriers to entry through technology, products, and/or methods


Sonny Mottahed

Sonny Mottahed

Chairman, President & CEO

Sonny brings significant senior leadership and financial expertise to the CBi2 team. Sonny is currently the CEO & Managing Partner of Black Spruce Merchant Capital (“Black Spruce”), a boutique corporate finance advisory firm, and the Chairman & CEO of 51st Parallel Life Sciences (“51st”), a late-stage ACMPR applicant company both based in Calgary, Alberta.

Sonny has helped raise over $4 billion dollars of capital for 50+ companies and prior to Black Spruce was Managing Director, Investment Banking & Head of International Oil & Gas with Raymond James in Calgary.

David Cheadle

David Cheadle


David has held lead roles in executing over 100 investment banking assignments with an aggregate value in excess of $5 billion in his 10+ years in the investment banking business. David has experience evaluating, structuring, financing, and advising a number of early-stage and start-up companies in the oil and gas sector.

David is currently a Managing Partner of Black Spruce and CFO of 51st and previously held the position of Vice President, Investment Banking at Raymond James and Canaccord Genuity.

Bill McDonald

Bill McDonald

Executive Vice President and Director

Bill has a wealth of private equity experience, having deployed capital in over 60 private start-ups since 2001 for a Toronto family office. This undertaking has delivered a unique perspective on the prerequisites required to deliver superior returns from a portfolio of early stage companies.

Bill currently serves on the Board of Grunewahl Organics an Alberta-based pre-license applicant and is a Director of Inner Spirit Holdings, the only cannabis-related company to become a member of the Canadian Franchise Association.

Jason Kujath

Jason Kujath

General Counsel

Jason is the co-founder, President and COO of 51st and is responsible for guiding it through the process of applying to Health Canada for a license to produce/distribute. Jason is also a member of the Alberta-based task force dedicated to providing stakeholder input to the provincial government on the legalization of cannabis.

Jason was previously a tax lawyer with a leading, international law firm, providing advice to private equity, venture capital and start-ups on corporate/commercial transactional and governance matters.

Chad Oakes

Chad Oakes


Chad Oakes is a producer and writer, known best for “Hell on Wheels”, “Fargo”, and “Broken Trail”. Chad is currently the Co-Chairman of Nomadic Pictures Corp, a Calgary based production company developing, financing and producing features, movies-of-the-week, mini-series and TV series. Founded in 1995, Nomadic Pictures has produced over 80 projects, worth a combined $850 million in production, and remains one of the most active production companies in Canada. The production company has produced works that have garnered 58 Emmy nominations and countless other awards including audience favourite at the 1997 Sundance Film Festival for “Hugo Pool”.

Gregg Turnbull

Gregg Turnbull


Greg Turnbull, QC is partner at McCarthy Tétrault, in the firm’s Business Law Group in Calgary. Throughout his career, Greg has dealt with all aspects of a company’s creation, growth, change and value maximization. Gregg has extensive experience in corporate finance and securities transactions, including public and private share and debt financings, takeover bids, initial public offerings, business combinations and international stock exchange listings. Gregg provides advice on various corporate finance transactions and has been actively involved in the initial public offerings for more than 40 companies and has acted as a director or officer for more than 35 companies.

Matteo Volpi

Matteo Volpi


Matteo Volpi is a highly accomplished executive with 20+ years of leadership experience directing operations management, strategies, negotiations, supply chain optimization, business development, public / government relations, aligning overall strategy and business plans. As a resourceful problem solver, with skilled ability to optimize logistics, Matteo has strong team building skills coordinating cross-functional groups to accomplish objectives and meet critical deadlines in high-growth and diverse environments.


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Whether you are interested in investing in the cannabis sector or are an entrepreneur looking for capital and business expertise to launch your new venture, we would love to connect with you.

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Northland Place
3rd Floor, 407 – 3rd Street SW
Calgary, AB, Canada T2P 4Z2

Phone: 1.403.351.1779


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