The legislation's architect said it will take time for the digital giants to strike media deals as the new laws come into effect, though both have already spoken to major outlets.
A concession deal has been reached over legislation that would force Facebook and Google to pay for news content, which prompted Facebook last week to block all news pages.
Facebook's abrupt decision to stop Australians from sharing news on the site also erased several state government and emergency department accounts, causing widespread anger.
Canadian Heritage Minister Steven Guilbeault has made it clear that he intends to introduce a “made-in Canada” plan by summer that includes payment for news content.
The move comes as a response to a proposed Australian law that would require it and Alphabet Inc’s Google to pay the country's news publishers for content.