No, I know how TV works, it's the same in Canada.
The animators make shows, then they license them out to networks.
The networks make money off ratings, which allows them to buy new shows.
Anyways, it may not be officially "cancelled" but it is on permanent hiatus. They probably knew that it was really getting sucky these past few episodes and did a mercy removal. It's now on permanent hiatus. The rest of the remaining episodes may come out on a DVD, but don't hold your breath. They got sick of the show and just stopped doing it, what's so hard to understand about that? TV networks don't care what's good and what's not, just what brings in advertising dollars. It's the sad fact of mass media.