Although Freehold is relatively new in terms of its operations, the history of the Hudson's Bay Royalty Lands actually extends back more than 300 years. Freehold receives a significant portion of its revenue from the mineral rights of certain properties acquired from Canpar; properties that were originally granted to the Hudson's Bay Company during the settlement of Canada. The mineral rights are particularly valuable to Freehold, as the rights are held in perpetuity. These properties have a long history and are a vital part of the Western Canadian landscape - from the Rocky Mountains, across the prairies, to Manitoba.

1670 The Company of Adventurers

Charles II, King of England, granted to the Hudson's Bay Company all of the lands, including mineral rights, draining into the Hudson's Bay. This grant covered 1.5 million square miles, nearly 40% of Canada today.

1867 Confederation

Hudson's Bay Company surrendered its title in these lands to Canada (the Crown) and retained the right to hold, in perpetuity, 1/20th of the land in western Canada. This grant, which included all mineral rights, amounted to 7 million acres comprising Section 8 and three-quarters of Section 26 (the 8s and 26s) in most Townships south of the North Saskatchewan River (HB Royalty Lands).

1926 Hudson's Bay Company

Hudson's Bay Oil and Gas Company Limited (HBOG) and its partners received an exclusive right to lease all Hudson's Bay Company lands in western Canada to explore for oil and gas.

1973 Siebens Oil & Gas Ltd.

Hudson's Bay Company sold its interest in 4.6 million acres of mineral title lands to Siebens Oil & Gas Ltd.

1979 Canpar Holdings Ltd.

Canpar Holdings Ltd. and Dome Petroleum Limited acquired the assets of Siebens Oil & Gas Ltd. As a result, Canpar held approximately 25% of the original HB Royalty Lands. Canpar is a private company owned by the CN Pension Trust Fund - the pension fund for employees of the Canadian National Railway System.

1996 Freehold Royalty Trust

Freehold Royalty Trust purchased the producing royalty lands from Canpar in conjunction with the Trust's initial public offering. This represented approximately 15% of the original HB Royalty Lands. Canpar retained the deep rights.