Yes, Authentication and Legalization Stamps together are equivalent to an Apostille Stamp as they both validate documents for international use. Countries that have not signed the Hague Apostille agreement use Authentication and Legalization Stamps while those countries who have signed the agreement issue an Apostille Stamp.
In Canada, the authentication stamp is done by Global Affairs Canada Authentication Services Section located in Ottawa close to ALSC head office. After verifying the official signature on your document, the authenticating officer will sign their name and apply the official Canadian Government authentication stamp. Now the document is ready for the legalization stamp at the embassy to become legally valid in the destination country, which is the equivalent of an Apostille stamp. The embassy or it’s consulate will verify Global Affairs Canada’s signature and stamp to verify all is correct. If the authentication stamp is correct, the Embassy or Consulate will apply their government stamp and possibly a registration number depending on the country and their process. Now that the document has been authenticated and legalized it is the equivalent to an Apostille stamp is a country that has signed the Hague Apostille agreement.