The two things you have to look for are:
1) Is this university/course accredited? If it is, then its ranking does not really matter. Whether it's Stanford University or the University of Netherlands. Notice it does not have to be accredited in Canada, it has to be accredited in the country where you take it. Now, it's an entirely different matter whther your diploma will be accepted in Canada (when looking for jobs, or trying to validate it);
2) How is this course going to count as far as "full time studies" are concerned? CIC says a "full time" course equals 15 hours/week of instruction during the school year. This works fine for undergraduate programs, but in graduate programs, where sometimes you have an element of research and/or report writing, it becomes a little trickier. That's where you should be careful.
