Federally incorporated Canadian companies by contrast can only issue no par value shares. Provincially incorporated companies can issue shares with a par value which can be helpful in tax planning, estate freezes and unique preferred share issues.
So the short answer to your question is that the 5,000, simply denotes how many shares you have, but the "no par value" part is for all intents and purposes irrelevant and only means that the shares were initially created with no par value. It's an aspect of the shares that's really only relevant to the company's accountants.