It’s only a recommendation from a senate committee. And it’s certainly not anything earth-shattering; we’ve all been hearing about retiring the penny for years now. It will happen if the government decides to do something about it but they’re under no obligation to.
The details, straight from the horse’s mouth.
At least they won’t have to change the beer too much. But I will resent having to replace spruce trees with gumtrees ! what do they plan to replace raccoons with. Koalas ?
No – you’ll get drop bears 
The NDP’s Pat Martin has had a private member’s bill on the subject for some time, but I don’t think it’s gone anywhere (which is normal for most PMBs.)
BTW, the humorous opening tagline on CBC’s “The Current” today was as follows:
In the Netherlands, when paying cash, the total that you pay is rounded up (or down) to the nearest 5 cents. Although prices can end in any amount of cents, what you end up paying ends up only in “0” or “5” cents.
Finland got rid of the 1 and 2 eurocent coins a few years ago, and prices in Finland, as I understand, end only in “0” or “5” cents.
Har! The Conservatives must be loving that one!
No worries, then. The snow snakes and ice weasels will take care of them.