The Canada Company was a large private chartered British land development company, incorporated by royal charter on August 19, 1826, under an act of British parliament. given royal assent on June 27, 1825, to aid in the colonization of Upper Canada. Originally formed to acquire and develop Upper Canada's undeveloped clergy reserves and crown reserves which, in 1827, the Company acquired for £341,000 ($693,000) from the Province of Upper Canada: