People at work mentioned this so I looked up an article (CP24) and actually read it to see if I had missed out on some major news:
http://www.cp24.com/news/local-security-top-of-mind-ahead-of-canada-day-celebrations-1.3482404
Some quotes:
"...all necessary measures are being taken to ensure that crowds celebrating Canada’s 150th birthday in Toronto this weekend will be kept safe, after it came to light that ISIS specifically mentioned Canada as a potential target
in recent months."
"The comments come after a national security memo obtained by CTV News Tuesday noted Canada and the U.S. were explicitly named as targets by ISIS after the attack on an Ariana Grande concert in Manchester, England in May."
"The threat did not mention Canada Day celebrations or any particular city specifically and sources told CTV News that there are no specific or credible plots concerning Canada day that they are aware of."
"“The threat level hasn’t changed,” security expert John Thompson said. “We’re still at a medium level of threat."
So, the long and the short of it is, while the actual security memo is new, it is not based on any new information. General threats were made in May following the Manchester attack. A security memo was issued as we near Canada Day (for obvious reasons).
So no, this isn't "fake news" (ugh, such a corrosive term), and it's true we are at a standing general threat level, and issuing a security memo before such large events seems intuitive, but I find it's always beneficial to actually read articles instead of just headlines.
Unfortunately, it's a losing battle these days. I imagine most people get their news and form opinions from headlines in their social media feeds. Although forming opinions based on headlines is far from a new problem, it's exacerbated and amplified by social media.
Oh, and this was not a comment on the original poster...