Canada will remain a fixture on the Formula 1 calendar until 2029 following an extended deal signed with race promoter François Dumontier.
The race's future had been called into question last year after FOM demanded an upgrade of the Circuit Gilles Villeneuve's paddock facilities.
It appears matters have been settled with news of a contract extension negotiated with the sport's new owners, Liberty Media.
"Some said the end was 2028, but it's 2029," Dumortier told the Journal de Montreal newspaper in Barcelona.
"This is nothing new. I'm not telling you anything new."
Russian promoters also extended their deal keep the race in Sochi on the calendar, which reflects positively on Liberty Media's will to move forward on the race front.
"The meeting [with Liberty] was favourable. Their vision of the future is interesting and it's music to our ears.
"But we have to give them time, because these people are in a very sharp learning curve. That being said, they seem to have an openness to discuss and work with promoters."
"As promoter of the Canadian grand prix, I had to be here," he said.
"Personally, I feel an excitement around Lance and I am moved and very proud to see him arrive in F1, especially since I've known him since he was a boy."