I found some more information on it from a since deleted classified posting:

High Manganese Steel
P.G. Oji Original Frame Tubes

The other posting I found was also somewhere in Toronto, so perhaps it could be a Canadian thing? It was going for $350 in the other posting but as a complete bike.

This was the photo i found there: http://toronto.lowprice.ca/_images/toronto/612412_s.jpg