Ok, if you're not printing the covers digitally, then pcmodem is correct. What you're looking for is a high-speed b & w production ink jet. Pcmodem has named a few, here are a couple of others: Kirk-Rudy, or MCS. These machines, as well as the ones that pcmodem suggested, will run flats (magazines), at around 8 to 10,000 per hour. They will run letter-sized pieces, (self-mailers, post cards, etc.) at around 12 to 18,000 per hour.
However, you will need to lease software to place those names & addresses in proper Canadian postal sort sequence prior to ink-jetting, and produce the proper postal paperwork that must accompany the mail job when presented at the post office. Being here in the states, I am only familiar with software that does this for the US Postal Service. However, you might want to find out if the following software vendors produce a Canadian version: BCC Mail Manager 2010, Satori, Smart Addresser, Accumail, Melissa Software.
You'll also need to be familiar with Canadian postal regulations (do the magazines go in sacks, or trays, etc.)
You can do this, it won't be easy, but, many have done it before, so, you know it can be done. Whether or not it is economically feasible to make such an investment for only 10 to 15,000 pieces per month, well, that's another story. Most of those mail houses who have made such an investment are mailing hundreds of thousands per month.
-Best, and, good luck!
MailGuru