JSYK when nations are put on that list it means that Canadians affected by terrorism supported by the Iranian (or any nation on the list) regime to sue.
"Iran is among the world's worst violators of human rights. It shelters and materially supports terrorist groups," Baird said in a news release announcing the formal terror listing, adding: "Unequivocally, we have no information about a military strike on Iran."From another article.
Baird said Canada has closed its embassy in Iran, effective immediately, and declared personae non gratae all remaining Iranian diplomats in Canada. Those diplomats must leave within five days. All Canadian diplomats have already left Iran.
For their part, Iranian-Canadian activists have been asking Ottawa to expel Iranian diplomats since 2003, when Canadian photojournalist Zahra Kahzemi was killed in Iran, and they stepped up the efforts after the regime’s crackdown on protesters following the 2009 presidential elections.
I don't know for sure but I think
The first time Canada closed it's Embassy in Iran was in 1979 ( for 8 years) after hiding 6 American Consular staff and getting them out of Iran when Iranian students took over the American Embassy and held the rest of the staff hostage for 444 days.. Canadian Iranian relations have been "iffy" to say the least since the execution of Iranian Canadian Photojournalist Zahra Kazemi.