You'll definately need some sort of PA, but theres a huge variety of types and a very wide price range. I myself have a Yamaha EMX660 mixer that I run into two yamaha speakers. My speakers are 15", but there're smaller ones that would probably work well also (and save you some money). As for recording, I'd recommend something like a Tascam Portastudio. I have a Portastudio mkIII. Its an analog recorder (which means it records on standard cassette tapes; digital recorders are REALLY expensive) I know nothing about the canadian system of currency, but the recorder cost me about 400 dollars in America. As for the PA, I can't remember what it cost me right now but I'm guessing it was about a 1000 dollars. All this stuff's pretty expensive, but if you guys could earn the money somehow it would really be worth it. Goodluck!

email me if u have any specific questions,
Evan
http://listen.to/EvanDyson