There is a big film festival in Toronto (TIFF - Toronto International Film Festival) but it is not until September.
One interesting place to visit, not far from your hotel is the National Film Board (
http://www.nfb.ca/) where you can watch some of the new avant-garde Canadian Films plus it is an interesting place to visit.
Canada is the birthplace of the IMAX film system (
http://www.imax.com/) and there are several IMAX theatres in Toronto.
One is at the Ontario Science Center (
http://www.ontariosciencecentre.ca/). They have a new type called the IMAX DOME. I haven't seen that. The "regular" IMAX is pretty spectacular. OSC is a bit of a trek from downtown but you could get there with transit easily (or a taxi) and the Science Center is a great rainy day thing, including the IMAX film, whatever they will have playing beginning of July (they haven't got July posted yet).
There are three other IMAX theatres in Toronto - check the IMAX website.
Personally, I can't see traveling half way around the world to sit in a dark room and watch a screen, but that's just me.