From there website:
Applications to the Two-Year MBA Program are accepted beginning in September of each year. Admissions decisions are made on a continuous basis throughout the year upon completion of a candidate's application file. The final deadline date in the annual application cycle is April 30th.
Seeing as R2 just ended on Feb 01, I doubt they have filled the class yet. Normally people advise against applying in R3, but it depends on your profile. I don't think Rotman is anywhere as competitive as top 20 us schools. So you should keep that in mind.
It also depends whether you have applied to other schools yet? or whether you mind waiting another year? It might be better to make a stronger app next year, and apply to more schools also.