You are outside of the minimum requirements of 3.0 (info found here:
Part IV - Personnel Licensing and Training - Transport Canada ) so officially they can refuse you based on that at an initial medical.
However, I do know several people who passed an initial category 1 medical with similar vision to you (but of course corrected to 20/30 or better with contacts or glasses) so it depends on how picky the medical examiner is, I guess.
Do you hold a Class 1 FAA or equivalent JAA medical by any chance?