Canada Company, land settlement company chartered in England in 1826. It was initiated by the Scottish novelist John Galt, who proposed that Upper Canada (Ontario) sell government lands in order to raise money to compensate settlers who had suffered losses from the War of 1812. Galt became (1827) the company's representative in Canada. The Canada Company acquired lands along the Lake Huron side of the S Ontario peninsula and founded Guelph and Goderich. In general the company was one of the most successful colonizing schemes, meeting its charter requirements by 1843. It remained in operation until the 1950s.