I have an iPad, Kindle and just bought a Kobo Touch.
As others have noted, if you want it to be used mainly for reading, I would definitely stay away from the colour/LED screens. They are great as tablets, but you'll rue the day you try to read on them for any length of time. Certainly when compared to e-ink readers.
Kindles work fine in Canada, but you are limited in where you can purchase books for it. The kindle store for Canadians is woefully lacking in content when compared to the US. I've noticed that many prices are the same, but often the Canadian price is significantly higher.
I am surprisingly impressed with my Kobo touch, and actually prefer it to the Kindle. (never thought I'd say that!) The outlets to buy books are numerous as it will accept almost any format, most importantly epub which is pretty much the gold standard for all readers (except for Kindle). Of course, like any electronics, there are work-arounds, but for straight forward use, the Kobo is at the top for me.
With the Kobo you can also borrow books online from the public library. Here in Toronto, I've noticed the selection of books available has improved dramatically over the last couple of years since I got my first Sony reader. So, in many cases, you don't even have to buy your ebooks. This feature is not available for Kindle in Canada, and when asked,
Amazon indicated there are no plans to roll it out in Canada in the foreseeable future.
Having both Kindle and Kobo is great and allows me to find the greatest selection and lowest price for my books. But if I was only going to have one, I would definitely choose the Kobo Touch.