Are there Nazis in Canada ?

I heard an interesting story on how Canada got its' name. It seems when back in colonial times the first settlers got together and discussed how they had a big beautiful country, but it didn't have a name. So, they agreed that they would put all the letters of the alphabet in a hat, and would draw out three letters and that would be their countries' name. They set everything up and a man drew the letters, and called out, "C, eh, N, eh, D, eh." Can anyone confirm if this is true?