In a very large bowl, combine the first five ingredients, plus 3/4 cup of the white chocolate chips.
In a microwave safe bowl, add remaining 1 1/4 cup white chocolate chips and canola oil, and heat on high for 60 seconds. Stir and microwave in 30 second increments, as needed, until chocolate is completely melted and smooth.
Pour melted chocolate over entire bowl of cereal mix, and stir until everything is coated. Dump mix out onto two wax paper-lined baking sheets. Allow to cool completely, so chocolate can harden and not be sticky.
Store in an airtight container.