The Charlton Catalogue of Canadian Government Paper Money designates this error with the number BC-37a-E27-iii and references the serial prefix N/L.
The first reported public discovery of this 1954 $1 Inverted Back Design error note was in early 1963 by Mr. Ronald Paul Dore of Ottawa, ON. He was a hotel manager and his eagle eyes discovered it in a local Ottawa tavern. He was offered $200 for the note by a local dealer but being the astute business man that he was he turned down the offer and started a bidding war among rival dealers.
Shortly after his discovery the Bank of Canada confirmed the authenticity of his error note and stated "it is one of a sheet of 32 misprinted notes that went astray before they could be destroyed by mint officials."
A week later Mr. Orville McNeil of St. Catherines publicly announced discovering a similar error note that he had stored in a book for several months after a barber refused to take it as legal tender. He came forward after reading the story in the Globe and Mail newspaper of Mr. Dore's discovery.
I have attached several news articles from 1963 about the discoveries. They make for interesting reading almost 60 years later.

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Arthur Richards
Contributor, Charlton Catalogue of Canadian Government Paper Money, 19th, 20th, 21st, 22nd and 29th Edition
Pricing Panel Member, Charlton Catalogue of Canadian Government Paper Money, 21st Edition 2009