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1) Traffic frequently entails advertising; the method is up to you.
2) Ads on your site can be sold in person by you, if you want to take that route, or the easier (and lower income) way is to use a service online. I dont have any links for them (I dont use ads) but they do exist.
3) Being the internet, and being in Canada, there arent really any legalities to worry about short of blatant copyright infringement, so keep that always in mind when paraphrasing or citing works, just as you would in a thesis paper.
4) Dont use just html, html is flat, and provides no interactive content. Learn and use some javascript and php, and use it liberally.
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