Preheat the oven to 350°F. Line three 6-inch cake pans with parchment paper.
In a large mixing bowl, add the canola oil, cane sugar, vanilla extract, milk, and eggs. Whisk together until combined.
Add in the cake flour, cocoa powder, baking powder, and salt.
Fold together with a spatula until you have a smooth cake batter.
Transfer the batter to the prepared baking pans, each will weigh about 250 grams.
Bake for 20 minutes or until a toothpick inserted in the center comes out clean. Allow the cakes to cool completely in the cake pans.
To make the frosting: In the bowl of a stand mixer fitted with the whisk attachment, add the heavy whipping cream, powdered sugar, and cherry extract.
Mix on low and gradually increase speed, as the mixture starts to thicken, until you are full speed. Whisk until stiff peaks form.
To assemble: Place the first cake layer on a cake plate. Top with a third of the frosting, and spread evenly.
Add the second layer and repeat.
Then, add the third layer and the remaining frosting and spread evenly.
Top the cake with fresh cherries.
Store in an airtight container in the fridge for up to 3 days.