Trick-or-treaters may be accompanied by what forecasters have dubbed “Frankenstorm” – a monstrous tropical storm that’s expected to hit Canada early next week.

Meteorologists warn of a rare collision of three major weather systems that are expected to create high winds, heavy rain, extreme tides, the possibility of snow and upwards of $1 billion in damage as the storm hits the densely populated areas of New York and New Jersey and moves its way to Atlantic Canada.

The remnants of Hurricane Sandy – which left nearly 30 dead as it blew through the Caribbean this week – are heading north and on a collision course with a wintry storm moving across the U.S. from the west and cold air from Canada, according to forecasters.

Environment Canada issued a special weather statement Friday warning of wet, windy and wild weather in southern Ontario beginning Monday evening.

AccuWeather meteorologist Bernie Rayno told CTV News that Frankenstorm is not being exaggerated.  

“I would use the terms devastating and historic; a one in 30-year storm," he said.

Bob Robichaud of the Canadian Hurricane Centre compared it to the 1991 "Perfect Storm" that struck America’s East Cost and Atlantic Canada, causing an estimated $200 million in damage.

“That storm was particularly large and this one is certainly on par with that,” he said.

Environment Canada warned there’s a significant chance the storm will follow an “unusual” northwest track towards the Lower Great Lakes from the Mid-Atlantic States.

“The remnants of hurricane Sandy may also draw in enough cold air for some wet snow to fall, especially over higher ground over south-central Ontario to areas northeast of Georgian Bay,” reads the weather statement.

If temperatures dip low enough, Environment Canada said Ontarians could see the first measureable snowfall of the season.

However, the exact route and intensity of the storm remains uncertain, according to the weather agency. In the U.S. forecasters said Friday there is a 90 per cent chance -- up from 60 per cent two days earlier -- the East Coast will get pounded with rain.

The National Oceanic and Atmospheric Administration said wherever the storm comes ashore, there will be 25 centimeters of rain and extreme storm surges. Up to two feet of snow is expected to fall on West Virginia, with lighter snow in parts of Ohio and Pennsylvania.

"What we are doing is we are taking the kind of precautions you should expect us to do, and I don't think anyone should panic," New York Mayor Michael Bloomberg said Thursday.

With a report from The Associated Press