That's a wide open question as there are a fuckload of cool Canuck bands out there right now, many of which just happen to be on this board.
Here's a few that i'm digging and apologies for the other TON that i've overlooked at the moment...
The Tranzmitors....Vancouver power/pop outfit that's been around for a few years and pumped out a lot of REALLY cool singles...fave is Dancing In The Front Row...an infectious powerpop anthem that should be blasting out of car radios everywhere!
The Pack AD...Vancouver 2 piece that are getting some airplay on the commercial stations. Don't judge them by their records, catch the live show as they are a million times wilder live!
Meisha and The Spanks....Edmonton 3 piece that are way wilder live than on the half dozen records they've released. They tour constantly so check them out when they play the dive bar in your hometown.
The Angry Dragons...Winnipeg 60's garage snotpunks!! Absolute killer live and on vinyl!
catl...3 piece primal blues stomp outta Toronto. If you dig Bukka White, Charlie Patton, memphis Minnie and Hasil Adkins then you'll dig this combo!! 3 records so far, all 40's blues style.
The Reply....Toronto soul/garage/mod combo that are Killer live!!
The Hook Up...Montreal (soon to be moving to Sask) late 60's MC5 meets psych meets Jefferson Airplane 3 piece that have released a coupla CD's and been on a garagepunk hideout comp. Live they are a ton of fun as guitarist Dave wails on the floor, in the dirt or wherever he wants.
Bad Bad Bad...2 piece outta Halifax that wail and scream and put on a really cool live show.
Lots of others to mention....Light Bulb Alley (Montreal), Weirdonia (Windsor), Mystics and TV Freaks (Hamilton), Lonesome Ghost (London...may be gone now), The Fine Print (London 60's pop/psych), The Hypnotics (Windsor), The Ottawa scene (White Wires, Mothers Children and many others), Sonic Avenues (Montreal) and all of the others i've forgotten....