As a Canuck, I have some thoughts:
1. Why New anything? (namewise)
Canada is full of lovely little words in about 60 or so aboriginal tongues, plus lots of colourful names from the mists of the past. Why just rename it after a large city? I mean, even Vancouver would feel a bit slighted perhaps, as they become less unique. And Captain Vancouver didn't discover this new frontier either. Just suggesting it might be more interesting to find an appropriate Haida, Objibwa, Cree, Blackfoot/feet, Huron, Algonquin, Mohawk, Innuit or other name. Myself, I think "Cherry" would make for an interesting colony (mandatory checkered sports jacket and high-collared dress shirts required dress).
2. I think these kind of land grants make sense. I could see Canada shipping out half a dozen mounties for about 5000-10000 colonists. (A good ration of Pol
op is 1:400, average is about 1:1000, RCMP today is somewhere around 1:2000 in many places, part of why they get lots of contract policing jobs out West since less guys/gals = less cost). They have a big base of knowledge about colonization, a highly educated populace, and lots of experience in peacetime space and colonial issues.
3. It better be cold enough for the CHL (Colonial Hockey League) and the ISL (Interstellar Hockey League) to field teams. If it isn't, something tells me there will be domes and refrigeration...