My nephew did speech therapy at about 30mos. My SIL said it was really nothing exciting and it really didn't make much difference! Some kids are just late talkers and if he understands and communicates the language will more than likely come. She didn't bother with her second son and he spoke at the same age as his brother who did have the speech therapy.
If you are feeling anxious about it though, you can pay privately for it. Most extended medical insurance will pay for most of the cost. Even just one or two sessions would be enough to give you things to do at home.
Odd that waits are so long in Ontario. I've not heard of people waiting that long here.