Hi Shivav!
Sure, it is. There is a significant number of potential MBA candidates, who are studying for the GMAT in pretty much every city of Ontario, Canada, US or any other country in the world.
Are you looking for anything specific? Study group, GMAT test prep courses, books and printed materials, online, MBA admission consulting, free Math/Verbal sessions, MBA Fairs, private tutoring, GMAT coaching, etc.? Please, let me know what you are interested in and then I can probably suggest you something valuable
I personally took one weekend course with Admit Master GMAT Guru, apparently the best GMAT instructor in Canada ( I liked him personally!), and was able to learn the best strategies and tips how to beat the test, how to think in the way the test-makers write the questions, how to eliminate at least 3 wrong answer choices, how to ballpark and think analytically to predict the write answer. Now I am all set and I am currently in the process of applying to some Canadian and US b-schools for class 2015 (Jan-Sept, depends on school)!
By the way, it's always better to start your GMAT prep earlier just to make sure you are not on rush and have enough time to prepare properly in order to get the score you desire

Good luck with your MBA journey!