I'm confused.
What speed were you allegedly doing and what was the speed limit at the time? If you were charged under s. 128 of the Highway Traffic Act, that's different than 172, and different penalties. If you were charged with stunt driving (section 172), you were looking at the immediate loss of your car for 7 days, up to $10 000 in fines and a possible two-year licence suspension. Although most officers are not doing it, some are still using s. 128 of the Highway Traffic Act when they observe a vehicle travelling more than 50 km/h over the speed limit, so that way the person still gets a court summons and a fine, but they don't lose their car on the spot or get the licence suspended.
A 50+ over the limit under s. 128 means you're looking at 6 demerit points, a possible 30 day licence suspension (possible but not necessarily mandatory), and the fine will be set by the judge. Depending on how fast you were going, it will probably be in the $500-$700 range. Pleading guilty to more than 50 over the limit would still drive your insurance rates right through the stratosphere. It might be worthwhile offering to plead guilty to something less, such as 40 km/h over. A lot of insurance companies seem to regard the 45 km/h-50 km/h or more over-the-limit range as the "magic" threshold for raising your rates by as much as twofold.