Yeah but think one that goes all through your PhD so not just an 8 month co-op. Basically your thesis is also the company's work; co-op isn't quite like that. Btw the pay is probably shit since they label you student and a co-op. EU ones take you as a researcher = good pay.
To be honest , I tried really hard to find that one
, and I agree it's pretty rare in Canada, and if there is, it would most likely be under the scenario where-in the employee has already been working in the company and would like to take advantage of some personal-training benefit, which means the companies who are doing it would most likely do it because they're "helping" their employee rather than looking for actual researchers.
Can't comment on the pay though, don't know what's the fair price for that. I've always thought graduate students get low balled until they finished their degree, unless of course in the situations like I mentioned above, where the employee/student has already been employed for quite a while, and they're just taking advantage of a company benefit.