In 1979, a subsidiary of the CN Pension Trust Funds, Canpar Holdings Ltd., and Dome Petroleum jointly acquired all of the shares of Siebens Oil & Gas. The acquisition included a large number of mineral title interests that can be traced back to the original lands granted to the predecessor of Hudson's Bay Company by Charles II, King of England, in 1670.
In 1982, the CN Pension Trust Funds established an exploration and production company, Rife Resources Ltd., to broaden the scope of its oil and gas investment program. The employees of Rife were also entrusted to manage the assets of Canpar.
In 1996, the CN Pension Trust Funds created Freehold Royalty Trust, a publicly-traded energy trust, and then sold all of Canpar's producing royalty assets to Freehold, along with some of Rife's and Canpar's working interest properties. Freehold converted to a corporation in December 2010 (now Freehold Royalties Ltd.). Freehold's assets are managed by the employees of Rife.