Yeah, with the present exchange rate, if some hypothetical owner of a new Canadian team were to pay a $1B USD expansion fee, it would be around $1.35B CAD. The numbers just aren't there for anybody in Canada to offer up this kind of money, which is why there are no new Canadian applications and probably will not be until the exchange rate improves.
It is not an NHL problem, it is a lack of Canadian applications problem. By contrast, the NHL expects to approve U.S. applications at the rate of about one every four years and their checks will clear. Notably, the Canadian owners will share in the expansion fees (in USD!) so none of them are complaining.