It may very well mean that. It will depend on where you were educated in the Philippines, what the curriculum includes and excludes, how much clinical time you had in each subspecialty and more. There are many, many threads on this topic here already with detailed and accurate responses. Have you read them yet?
You are aware that Canada is the second-largest country in the world by landmass and that the cost of living, availability of inexpensive housing, climate and working conditions vary from province to province. Right?
Another thing you should know is that right now there is no shortage of nurses in Canada and for an IEN to become registered and emigrate, there needs to be a favourable Labour Market Opinion - meaning that there will definitely be a job for this IEN to fill once s/he is here. Which there currently isn't. There are only a limited number of visas each year for nurses and they've usually been exhausted by mid-year. Those who applied for a visa in May or June 2012 are going to be ahead of you in the queue for a visa. As well, there have been recent changes to Canadian immigration laws which may have an effect on your application.
The process for IENs to become RNs or LPNs in Canada is a long and costly one. Be prepared for it to take more than a year, and many hundreds of Canadian dollars. Be prepared to be told that your education isn't equivalent to that of a Canadian nurse, meaning you may be expected to take certain courses to meet requirements. Be prepared to come to Canada to write the CRNE, which is only written three times a year at present, and is only written inside the country. Be prepared for a lot of frustration and confusion.