Summary
A Royal Charter from 1670 connected to the Hudson's Bay Company was auctioned in Canada for $13 million. The document, crucial to Canadian history, was purchased by two wealthy families to be shared with Canadian museums. This charter allowed the company to govern parts of Canada and was recently put up for sale due to bankruptcy.
Key Facts
- The Royal Charter was granted by King Charles II in 1670.
- It gave the Hudson's Bay Company powers to govern large parts of what is now Canada.
- The charter was sold for $13 million owing to the company's bankruptcy.
- Two wealthy families, the Westons and David Thomson, bought it.
- Canadian museums will now share custody of the charter.
- A $5 million donation accompanies the purchase for educational purposes.
- The sale needs court approval to be finalized.
- The charter is considered a foundational document in Canada's history.
