The Band "Two Bits" released one single - on the Vantown label, one of only two singles ever pressed on the label, the other one being One Way Street http://www.mocm.ca/Music/Title.aspx?TitleId=294469. Only a handful of the singles were produced, most being distributed in January, 1967 to local radio stations, like C-JAZ.
The man who created the label was veteran Vancouver Disc Jockey Tom Peacock.
Two Bits are rumored to have been the American band "The Cascades", who had a big hit at the time, "Rhythm of the Rain". Apparently, while spending time in Vancouver, and still under contract with Warner, they recorded this single under the pseudonym "Two Bits". Have a listen to these tracks - the similarity is striking.
Although I attempted to contact him many times over the years, he never once returned my calls, and eventually died of a heart attack in 2006.