I got an email from Waterloo around the end of January. I had received an email from a POI at the start of January. As for my profile, I had the highest GPA of my Faculty when I was applying, but I had no research experience. A professor from UofT informally told me that my references were great and my statement was well written.
Also, just found out last week that I've been accepted to UofT. Funding is significantly less than Waterloo, so I'll be going to Waterloo.