Congrats!
Course is optional, but STRONGLY RECOMMENDED. They will provide the bike but you must bring the gear: helmet, jacket, gloves and boots, there are a few places that can rent you those for about $75 bucks for the duration of the course.
Centennial College, Humber College, RTI provide the courses ($470 - $500) and they test you for your M1 exit right there and then.
The course is done mostly on weekends, full two days, and at the end of it, provided you pass the test, you get a sealed envelope that you must bring to MTO after 60 days of getting your M1.