Well, I received an email on August 12 that they have processed a refund for one of my ticket cancellations on May 4, so only 100 days to "process" a refund. I put process in quotes because I haven't actually received the refund on my card and the email says that it could take two months for the refund to show up in my account. It is not clear why a process that takes my business 48-72 hours to complete takes Air Canada between 102 and 160 days to complete. Even if I have to send a refund back through an OTA, it doesn't take more than 3 weeks.
Not to mention, there is still no sign of a refund for the other 5 tickets that I cancelled the same day.