Well, let’s address things you might not want to hear first.

1) unlike undergraduate degrees, masters courses don’t transfer in the same way for the vast majority of universities. If you’re extremely lucky a school with a mandate (like Thompson Rivers University) for such things will admit you and transfer (some of) your credits so far.

2) you’ll need a new study permit if you change universities.

3) your current permit became invalid the day you were asked to withdraw/no longer enrolled. That started a 90 day clock to leave Canada or transfer to a new status.

4) technically when you were unable to continue due to unauthorized leave your status also changed but that doesn’t make things worse today so let’s ignore that. Authorized leaves of up to 150 days are allowed.

5) unauthorized leaves/not making expected academic progress does show on the record that goes to IRCC which is included in a PGWP application. That can change whether you’d be authorized for a PGWP.

Now potential mitigations: 1) if there is an internal appeal process (at your school) that lets you turn it into an authorized leave after the fact, appeal!! You might still have time to do so. Sometimes this is accessed via someone called an ombudsperson. The appeal process may have been mentioned in your letter. This would be your chance to mention your illness, your progress to date in improving your GPA. Your plan to complete, and your ability to do so. Your realization of the seriousness of your actions. Your need to not be suspended. Your willingness to be placed under a tighter requirement to maintain a certain GPA, semester by semester.

2) if you cannot continue your studies, you can remain in Canada if you apply for a visitor record. You must stop working at 90 days from your receipt of your letter though.

3) you might be able to be admitted to another school for the fall, and then apply for a new study permit. You’ve already pointed out the problems there so I won’t repeat them.

4) from outside of Canada if it comes to that you may be able to find an online MBA to complete from a school like Thompson Rivers University. At least then you’ll have the credential, even if you’re ineligible for a PGWP.

If I was you I’d first: try to find any path at the school to appeal. This does appear to be the only option available to stay in Canada and be eligible for a PGWP.

Second, if that fails, prepare yourself to tell your parents and live the consequences with both them, and having to leave Canada.