Switched up just a few things, it's a little bit better but what you had found was already pretty good. And yes, that CPU cooler will work with that build.
PCPartPicker part list:
http://ca.pcpartpicker.com/p/3fQBv
Price breakdown by merchant: http://ca.pcpartpicker.com/p/3fQBv/by_merchant/
Benchmarks: http://ca.pcpartpicker.com/p/3fQBv/benchmarks/
CPU: Intel Core i5-3570K 3.4GHz Quad-Core Processor ($239.00 @ Canada Computers)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.80 @ DirectCanada)
Motherboard: Gigabyte GA-Z77-HD4 ATX LGA1155 Motherboard ($88.99 @ Canada Computers)
Memory: A-Data XPG V1.0 8GB (2 x 4GB) DDR3-1600 Memory ($79.99 @ NCIX)
Storage: Toshiba Product Series: DT01ACA 1TB 3.5" 7200RPM Internal Hard Drive ($59.79 @ DirectCanada)
Video Card: MSI Radeon R9 270 2GB Video Card ($209.64 @ TigerDirect Canada)
Case: Cougar Solution (Black) ATX Mid Tower Case ($44.99 @ NCIX)
Power Supply: XFX 550W 80+ Bronze Certified ATX Power Supply ($55.99 @ NCIX)
Optical Drive: Samsung SH-224DB/BEBE DVD/CD Writer ($16.79 @ DirectCanada)
Monitor: Acer H236HLbid 60Hz 23.0" Monitor ($158.56 @ DirectCanada)
Case Fan: Cooler Master SickleFlow 69.7 CFM 120mm Fan ($5.76 @ DirectCanada)
Keyboard: Cooler Master CM Storm Devastator Gaming Bundle Wired Gaming Keyboard w/Optical Mouse ($31.00 @ Vuugo)
Headphones: Corsair Vengeance 1400 Headset ($59.99 @ Memory Express)
Total: $1080.29
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-03-24 20:01 EDT-0400)