No, it will not cancel your application, but you need to complete a Change of Personal Information form:
http://www.forms.ssb.gov.on.ca/mbs/ssb/forms/ssbforms.nsf/GetFileAttach/005-0161E~1/$File/0161E.pdf
See the instructions on page 26 of the Application Guide (page 31 of the PDF):
5.4 Changes in Personal Information
The OINP must be notified if there are any changes to the information provided in your application, including (but not limited to):
Change in contact information
Change in immigration status (expiration or change in temporary work permit)
Change in family composition due to:
o Marriage or common-law relationship
o Birth of a child
o Change of custody of a child
o Divorce/separation
o Death
Changes to your primary telephone number, email address and country of residence can be made online by logging into the OINP e-Filing Portal and clicking on “My Profile” on your main page. After the change has been made, click “Save”.
For all other changes, you must complete the Change of Personal Information form.
This form must also be used to a request a correction of a data entry error (i.e. spelling mistake) in your name or your date of birth made while registering. Note: The program will not accept requests for complete name or date of birth changes.
Once the form is completed, you must send it by email as an attachment to
ontarionominee@ontario.ca indicating in the subject line “Application Change Notice – [File number]”. If you are requesting a correction to your name or date of birth, please also include the personal details page of your passport to validate your request.
Failure to notify the OINP of any changes to personal information will impact the outcome of OINP and IRCC applications.