Officially, they have no comment on shopping to other networks, but they apparently haven't done so. They also can't accept fan donations, but they can accept sponsers from corporations (such as Trek United, inc). Also, their decision to cancel the show on UPN is final.
I did some reading up on this, and the amount of money it seems the Canadian company could spend is 18 million dollars. If I'm not mistaken, this is actually very close to the amount of money UPN's licensing fee cost. All Paramount needs is a US market who will pay around the same price, and they will make a profit without having to rely on DVDs or re-run syndication. They would loose foreign market profits, but they are getting $18 million from foreign markets.
Also, since this only applies to Enterprise, it seems that (assuming it is possible to make a profit under this arrangment), they would only be gaining money, since the show wouldn't exist otherwise.