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I go to a Canadian school as well (Ivey/Queens) and I know people at my school have done this in the past to get a second shot at US recruiting. It's definitely possible but you'll have to have a good reason for why you're taking extra time just in case you get asked about it. For the people that have done this in the past, many ended up doing a full year internship and some end up doing a second degree/minor to justify that extra year.
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