Assuming the numbers are roughly equal in regards to what is included, a Gripen over 8,000hrs (lifetime of a F35) at $7,000 per flight hour is going to cost 56,000,000 to fly, a F35 at $36,000 is going to cost 288,000,000 in the same timeframe.
You could equip the Snowbirds and 1 other squadron with Gripen's for deployments in more permissive areas and keep the F35's for the higher end stuff. Lets say 25 aircraft total. You could be saving $5,000,000,000 over the 8,000hr lifespan of the aircraft. The fleet would look like 53 xF35 and 25x Gripens. You keep the Snowbirds, which is very much the public face of the RCAF and CAF, get them a modern, combat capable jet if required.