When we're having this discussion, it is worth looking at an important influence, the flag of the Royal Military College.
This places the college's coat of arms on a white background between red bars. From the Royal Military College site:
The design of the RMC flag proved to be instrumental to the final selection of the Canadian flag in 1965. In fact, the former RMC Dean of Arts, Deputy Director of the Army Historical Section and author of the book The Story of Canada's Flag (Ryerson, 1965), the late George F.G. Stanley, writes that during the great flag debate in 1965, he suggested that the design of the RMC flag be used as the new National flag, substituting the College crest for the styled red maple leaf. From his idea came the flag we know today.