RE: interesting that CN is...
Although Freehold is relatively new in terms of its operations, thehistory of the Hudson's Bay Royalty Lands actually extends back morethan 300 years. Freehold receives a significant portion of its revenuefrom the mineral rights of certain properties acquired from Canpar;properties that were originally granted to the Hudson's Bay Companyduring the settlement of Canada. The mineral rights are particularlyvaluable to Freehold, as the rights are held in perpetuity. Theseproperties have a long history and are a vital part of the WesternCanadian landscape - from the Rocky Mountains, across the prairies, toManitoba.
1670
CharlesII, King of England, granted to the Governor and Company of Adventurersof England trading into Hudson Bay (Hudson's Bay Company) sole tradeand commerce rights in, and title to, all of the lands encompassing thewatershed of Hudson's Bay. This historic land grant covered 1.5 millionsquare miles, nearly 40% of Canada today.
1870
Upon Confederation, the Hudson's Bay Company surrendered title to these lands in exchange for £300,000Sterling and 1/20th of all agricultural land in western Canada. Thisgave the Hudson's Bay Company Section 8 and 3/4ths of Section 26 (the 8sand 26s) in most Townships south of the North Saskatchewan Riverbetween Winnipeg and the Rocky Mountains (approximately 4.5 millionacres) - the HB Lands.
1926
Hudson's Bay Companyco-founded Hudson's Bay Oil and Gas Company Limited with exclusive rightto lease all of the HB Lands in western Canada to explore for oil andgas.
1974
The Hudson's Bay Company sold its mineral title interests in western Canada to Siebens Oil & Gas Ltd.
1979
Canpar Holdings Ltd. (owned by the CN Pension Trust Funds) and Dome Petroleum Limited jointly acquired the assets of Siebens.
1988
Amoco Canada Petroleum Company Ltd. acquired Dome Petroleum.
1993
Canparand Amoco exchanged certain assets whereby Canpar acquired increasedminteral title ownership in the producing HB Lands originally acquiredfrom Siebens.
1996
Canpar and RifeResources Ltd. (private companies owned by the CN Pension Trust Funds)established Freehold Royalty Trust. Proceeds from Freehold's $264million initial public offering were used to acquire all of Canpar'sproducing royalty interests (with Canpar retaining the non-producingdeeper rights). Freehold also acquired several working interestproperties from Canpar and Rife.
2001
Freeholdacquired 129,000 gross acres of producing and undeveloped mineral titleand gross overriding royalty interests in southeast Saskatchewan.
2005
Freeholdacquired Petrovera Resources from Canadian Natural Resources Limited,adding more than a million gross acres of mineral title and grossoverriding royalty interests in western Canada and in Ontario. Thisacquisition more than doubled our royalty land holdings.
2010
Freehold acquired 365,000 gross acres of royalty land in western Canada in 2009/2010.
On December 31, 2010, Freehold Royalty Trust converted to a corporation and changed its name to Freehold Royalties Ltd.
2011
Today, our total land holdings encompass 2.8 million gross acres, over 90% of which are royalty interests.