In 1497 the Bristol Guild of Merchants financed a voyage by John Cabot to Newfoundland, where he is reported to have landed at Cape Bonavista.

[5] The company was granted a charter by James I on 2 May 1610 giving it a monopoly in agriculture, mining, fishing and hunting on the Avalon Peninsula.

[7] Sir George Calvert acquired a large land holding on the peninsula and hired an agent Captain Edward Wynne to set up headquarters in Ferryland.

Calvert wished to make the colony a refuge for Roman Catholics facing persecution in England.

A series of crises and calamities led Calvert to quit the colony in 1629 for "some other warmer climate of this new world", which turned out to be Maryland, though his family maintained agents to govern Avalon until 1637, when the entire island of Newfoundland was granted by charter to Sir David Kirke and The 3rd Marquess of Hamilton (who was later created The 1st Duke of Hamilton).