Information about this is surprisingly hard to come by. When it was announced that a Captain Canuck movie was in the works, several media outlets carried the news, but for the moment anything having to do with an animated version of the character seems to be restricted to conventions and such.
In any event, here is the teaser currently making the rounds
CC Teaser from Mike Valiquette on Vimeo.
Edit: I was on captaincanuck.com just a day or two ago and the most recent news displayed was from November of last year, if my memory is sound. It has since received a complete overhaul to reflect this project.