Correct the Velec line of bikes are made in China not Canada.
Like Velec there are several companies who will use the wording "Designed in Canada". This basically is a broad meaning to which there is little to no legal implications of being sued. Using terminology like "Engineered in Canada or USA" for example can technically get these companies into some issues if someone were to challenge them on such a claim as they would be required to prove such claims.
Essentially like many US and CDN brands they simply source the bikes from suppliers in China, give the manufactures a build list of components they want / possibly take some advice from the factories / maybe take a trip or two over to China and place their brand name on the bikes and use the "Designed In XYZ" to help build some credibility.
You will find that many companies do this and most don't even have an engineer on staff or testing facility of their own but rather rely solely on the bicycle manufacturer in Asia to build the bikes for them.