Welcome to Army.ca
Yes, there is an age limit, but you are nowhere near close to it, and yes, there are "implications", in that your security screening will take longer.
There is a ton of information already here on this Site. Please explore it before asking any more questions, as it is most likely that they have been asked and answered at least once. And, by doing so, you will likely find answers that have not even occurred to you yet.
Start with the stickied threads in each relevant sub-forum, and try the Search Function.
"Am I too old to join/do well/fit in? (Merged thread)" at http://army.ca/forums/threads/207.0.html is one example.