The full-size saucer was actually an inflatable prop.
The aliens depicted, including the pointy-nosed robot, are based on actual descriptions given by UFO "witnesses" over the years.
Riffed by the guys from Mystery Science Theater 3000 (1988) under the RiffTrax name, Michael J. Nelson, Bill Corbett, and Kevin Murphy.
The film features the 1977 Penthouse Pet Of The Year, Victoria Johnson as Gazeth.
This was the most expensive Canadian film made at the time of its production.