I don't think the F-18E is an option anymore since the Canadian government postponed major procurement until 2020 and the F-18 production line is scheduled to close down in 2017.
The likelihood Canada's government will agree to spending 2% GDP for defence (NATO obligation) is nil. The previous government didn't even consider it. Canada needs an aircraft that is affordable to purchase, but even more so, affordable to fly. The upfront cost of an airplane is a small part of the total cost of ownership when cost per flight hour is factored in.
From a cost perspective, Canadian pilots would be able to fly more hours in a Gripen compared to any other aircraft, even the F-35. This aircraft would be sufficient to hold us over till the 6th gen aircraft are available and then serve in a mixed force. Maybe even provide the Snow Birds with desperately needed replacements!
Is the Gripen the best? No, but its good enough for Canada's needs.