If you are a handy kind of guy with tools and such, you can restore this canoe. This forum has the information that you need to answer questions. Those of us that do this, all do things differently, but the outcome is pretty much the same. I recall a novice named Eric Bebee that came to this forum like you have. He lived in an obscure place that was not exactly a hot bed for wooden canoes...Texas, I believe. Through his questions and the answers here he went through each step and wound up with a great restoration and went on to do more.
Two books that are a must if you are going to do this are, "The Wood and Canvas Canoe", by Rollin thurlow and Jerry Stelmok, and "Building The Main Guide Canoe", by Jerry Stelmok. Both books, the first one being known as "the bible", have the restoration process described in detail.
I must caution you also that wooden canoes can cause a disease that will stress,....if not kill, your marriage, fill all all available storage space, take up time away from other things that you SHOULD be doing, travel far and wide to see canoes, and hang out with other folks with this deadly disease. There is no known cure........