I am not a Canadian, but have an answer for you. $70 for a plunge router with five bits (including the one you need) is a pretty good deal. Mastercraft is CTC's brand where they lease production time and schematics from an existing company, like Black and Decker, to produce the goods in their colours. Many companies do this:
Dont get it confused, Mastercraft is very different from Jet or Powermatic. JPW makes those two (the W is for Wilton), and most of their stuff is made in LaVergne TN. Jet is some of the best industrial tools you can buy, Powermatic makes the best largescale woodworking tools, Wilton is hammers and vices.
For router use, go slow and practice before hand. Routers kick, but that Mastercraft should not be too bad.