Ahh a fellow Torontonian!
Indeed, it's the bike from TO Craigslist. I'm glad I picked it up - not too many people rocking 70's Merciers in town, and it's in good condition - looks like it spent most of its life in a garage.
The guy's also got an '82 Peugot PX10E super competition and also a couple of mint PX10's he's not selling - totally look like they could be in any garage in the 70's or 80's.