Spain's Ministry of Foreign Affairs said it would work with Canadian authorities to transfer the remains of the crew members to Spain.
It is not immediately clear what sank the trawler Villa de Pitanxo.
The vessel, the Villa de Pitanxo, launched a distress beacon at 0424 GMT.
- Mallorca hoteliers calling for eight-year sentences for British tourists' false claims
- Update: The 90-day rule for Britons in Spain your views keep flooding in " When we’re in Mallorca we also support the local economy"
- Palma's Via de Cintura cut off to save the lives of a group of disoriented dogs
- Playa de Palma club faces huge fine for security breaches
- Prison for three people involved in the smuggling of 24 kilos of drugs into Mallorca