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The Canada Company was a private British land development company that was established to aid in the colonization of a large part of Upper Canada. It was incorporated by royal charter on August 19, 1826, under the Canada Company Act 1825 (6 Geo. 4. c. 75) of the British parliament, which was given royal assent on June 27, 1825. It was originally formed to acquire and develop Upper Canada's undeveloped clergy reserves and Crown reserves, which the company bought in 1827 for £341,000 ($693,000) from the Province of Upper Canada.