[TheDragon]

Here's my massively cynical projection of what would happen:

Immediately, we'd see a massive surge of refugees coming from various northern parts of the US trying to escape to higher ground. Since Calgary is one of the highest cities in North America, it would only be a matter of seconds before news agencies like CNN would basically be saying "FLEE TO CANADA!"

Probably all of the Maritimes would be underwater, and so would most of Newfoundland/Quebec. Whether or not the water would reach Ottawa is debateable, but not out of the question. Either way, we'd have a new Atlantic shoreline. Vancouver would be gone immediately, but thankfully the Rockies would provide a nice cushion of elevation to keep the water out of most of B.C.

After that, the Canadian government (what's left of it) would probably lose out trying to enforce any kind of order or discipline amongst the remainder of the popullation. There would be mass hysteria as 99% of the world's popullation were now dead. Resources would become tight, and we'd have no import/export economy to sustain food and currency. Eventually people would break down into individual tribes, claiming territory of their own. Civil war would erupt over land and food, women and material objects.

The climate would drastically change, too as places like the Amazon rainforest, that supply the lion's share of the world's air supply, would be under water.

Calgary would no longer get chinook winds, either.

Edit:

Actually, come to think of it - The Hudson Bay would flood most of Eastern Canada, and all of the water coming in from the north would do a number on areas like Northern Saskatchewan, and whatever might be left of Manitoba. Grand Prairie would be an ocean front, I reckon.