Judging from their website, Colt Canada doesn't manufacture pistols in Canada, so would CZ just have to fly CZ or Colt pistol machinery over or build a copy here. Either way, I can't imagine much of a difference in cost.
With the C7/C8/C9 Diemaco was starting to produce in Canada, and Colt and FN where providing some parts from home, until Diemaco was 100% up and running with made in Canada items.
The difference then, was Diemaco was given the job of manufacturing what the CF had selected and that was contracted via PWGSC.
Then Colt and FN provided the TDP to the CF/Cdn Gov for manufacture -but Diemaco had no rights to sell outside of Canada.
That changed and Colt had Diemaco do European Sales when it was at Max Cap down here with M4's - and then Colt bought Diemaco.
The fact is that Colt Canada/CZ would still need to provide a complaint item, or be given first right of refusal to produce one.
Since they do not produce any pistols in Canada now, one can assume Colt had no interest in the CF Pistol - and if CZ will or won't remains to be seen.
Admittedly I am more surprised that no one attacked the SOW for really just being a fairly poor attempt at a Sole Source - as there is only one complaint item with all the "requirements" - and one can't really defend a lot of the "needs" than someone wanted the 320 over Glock, FN, CZ, etc.