Hey Kate,
I remember this question as well it's a year old now great catch and they answer. Thumbs up.
Imagine if you tried to target all of different French dialects if you tried to target all of that with one url you would not be able to have the subtle differences between French and Canadian French
just like a US English and Canadian English there are minor details that make a huge difference to Google. Also I'm sure this is been sa just like in US English and Canadian English there are minor details that make a huge difference to Google.
Also I'm sure this is been said however I think it is worthwhile to host your website in the country you're targeting. Canada in this case (This not that it is going to hurt you badly) as long as hosting it's very fast were you going to target. if you do not however there is evidence pointing to the IP still making a large difference after Geo targeting. )
See Richard Baxter's article on using a UK IP versus US IP on the exact same hosting company and getting a pretty large difference in results based on the IP address after Geo targeting.
https://builtvisible.com/ip-location-search-results/
What's interesting is WPE (the host) was using a proxy so hosting was still out of the UK Data center but was assigned or US IP addres.
I hope that helps and agree 100% with what Kate said. She really knows her stuff.
Tom