Our Business - History

In 1670, King Charles II issued a Royal Charter incorporating the Hudson’s Bay Company (HBC) and granting trade and governance authority across Rupert’s Land.

Over time, portions of HBC fee-title interests were subdivided and conveyed, creating privately held land and mineral titles that persisted through later transfers and resource development.

In 1763, the Royal Proclamation set Crown rules for relations with First Nations and restricted private settlement on reserved Indigenous lands in British North America.

It established that Indigenous lands could be acquired only through Crown processes, providing a durable legal foundation for later treaty-making in Canada.

In 1870, Rupert’s Land was transferred to Canada and the Dominion organized settlement through the Dominion Lands Survey and township system.

Specific sections were reserved for railways, schools, homesteads, and Hudson’s Bay Company lands, including section 8 and most of section 26, forming the 8s and 26s legacy.

In the early 1900s, national transportation and resource development accelerated across Western Canada, supporting settlement and market access.

Canadian National Railways (CN) was incorporated in 1919 and created a land settlement division in 1925, while Hudson’s Bay Company Oil and Gas (HBCOG) was incorporated in 1926 to develop mineral rights linked to HBC lands.

In the 1960s, Canada formalized retirement systems, including the Canada Pension Plan (CPP) in 1965, and employers expanded defined-benefit pensions across the country.

In 1968, CN established the CN Pension Trust in Montreal to invest and administer pension assets internally, later renamed the CN Investment Division (CNID), which maintains a six-decade track record of strong investment performance.

In the 1970s, the HBCOG legacy mineral titles and producing assets were assembled into the larger corporate portfolio of Siebens Oil & Gas.

In 1979, a subsidiary of the CN Investment Division (CNID), Canpar Holdings Ltd., together with Dome Petroleum, acquired all of the shares of Siebens Oil & Gas, including HBCOG’s large portfolio of mineral title interests.

In the 1980s, large pension funds and institutional investors increasingly sought direct exposure to energy assets to complement traditional public market investments.

In 1982, the CN Investment Division (CNID) established Rife Resources Ltd. to broaden its oil and gas investment program, with Rife’s employees entrusted to manage Canpar’s mineral title assets and operating interests.

In the 1990s, the CN Investment Division (CNID) had built a significant oil and gas investment platform through Canpar and Rife, spanning mineral title lands, royalties, and operated assets.

In 1996, CNID created Freehold Royalty Trust as a publicly traded vehicle and transferred all of Canpar’s producing royalty assets to Freehold, which continues to operate as one of Canada’s original royalty companies.

In the 2000s, a global commodity supercycle drove sustained growth in Canadian oil and gas investment, production, and infrastructure across both conventional and emerging resource plays.

During this period, Rife expanded its drilling and operating activity on Canpar-controlled lands, increasing production exposure while continuing to manage long-duration mineral title and royalty interests.

In the 2010s, the North American shale boom reshaped the oil and gas sector, leading to consolidation as companies rationalized assets and capital programs.

During this period, Canpar expanded its land position through several acquisitions and experienced new redevelopment on historic lands, supporting continued growth and scale across its portfolio.

In the 2020s, global energy markets continued evolving amid shifting demand, new investment priorities, and changing resource development dynamics worldwide.

In 2022, the CN Investment Division (CNID) established Evergreen Royalties to expand the platform, supporting new investment structures and selective entry into U.S. mineral and royalty markets.

In the mid-2020s, organizational structures were streamlined to reflect the scale and maturity of long-standing land and royalty holdings developed over prior decades.

During this period, Canpar, Evergreen, and Rife entities were rebranded under the Rife name, aligning assets and operations within a single organization to support clarity, continuity, and long-term stewardship.