The Tone Hammer would be a nice step up for an amp, but odds are that older Barefaced 112, which is a significant step down in speaker size - doesn't move as much air. In any case, it's not really going to give you any more sound that you're getting now. That Tone Hammer 500 putts out 250-watts into 8 ohms and that's an 8 ohm cabinet. So you are going to get less power into a smaller speaker than you are currently getting with your Peavey Max 115 combo, which is putting out 300 watts into its 8 ohm speaker. So less power and smaller speaker would be a no-go for me.
And that 600-watts is not how much power it will handle. It is their recommendation as the most powerful amp they'd recommend to drive it. If you read some of their info they give you the low amp recommendation and high amp recommendation but don't specify what the "rms" power handling is. They are not recommending that you push 600-watts through it. In their info explaining their recommendations they say that they used an 1800 watt amp on one of their 15's putting "at least" 450 rms watts through it. At best, I would compare that 112 to other 112's that handle 300-watt rms or less. 250 to 300-watts rms is pretty common for 112's and I know of one that handles 450-watts rms.
Having said that, Barefaced does have some nice sounding cabs. I just think you would be disappointed buying this set-up just because it weighs less, only to find out that combination of amp and cab is not as loud as your Peavey 115 combo. You'd probably end up gigging with the 115 combo instead.
Now if you got that Tone Hammer 500 and two 8 ohm 112 cabs, then you'd be in good shape. The Tone Hammer at 500-watts into a 4 ohm load (two 8 ohm cabs = 4 ohm load) would work well. And the difference in sound between a single 112 and two of them is surprising. You'd have both more power and you would be pushing more air than that 115 combo if you had two 8 ohm 112's. You could easily play small and medium-sized venues.
I have two Eden EX-112 cabs that I'm selling, but they are 4 ohm cabs and that wouldn't work for you. They will handle 300-watts rms and I wouldn't be comfortable using a 500-watt amp to run one. Just a little too easy to accidentally screw up and blow the speaker. Plus as you mentioned, shipping to Canada is really pricey!
Here's what I used for small venues. It's an Eden EX112 4 ohm cabinet powered by an Eden TN226, which is 225-watts at 4 ohms. It was for a small brew-pub that we played at least 3 times a month for about 2-years, so was worth getting a specific-set up for it.
And here's the 2 x 112 set up I used to run (I now run a DNS-210 by DNA instead). That's an 800-watt Eden amp running up to 400-watts @ 4 ohm in each side of this dual powerblock amp. Didn't run nearly that much power into them to reach gig levels and that worked great for small through medium-sized venues.