Update - There's been some confusion regarding this announcement, even within Facebook themselves. I've been chasing down the details and Facebook Canada tells me there will be an event in the US today, but it will not involve anything beyond the US. There will be no new features launching in Canada

At 4:30 PM Pacific Time, 7:30 pm Eastern, Facebook will hold an event to discuss new changes to the popular social network. There's no indication as to what the topic will be, but the speculation for a long time has been that we'll see the arrival of location-based features that will allow users to record the location each of their updates originates from. Considered a hot growth space in social networking, location-based networks Foursquare and Gowalla, sites that allow you to share your favorite hang-outs while you're visiting them, have proven very popular amongst early-adopters. That pressure, many feel, is one Facebook will have to address if they want to remain relevant. We'll see what Facebook's co-creator Mark Zuckerberg has to say later today.