Unknown Radio-Recorded Song Has Been Baffling Since 1993 – Can You Solve The Mystery?

The other day, my friend told me about a song, a mystery song actually, and I thought I’d share it with you. Can you solve the mystery?

Here is her description:
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A quick recap of the background story:

I recorded this onto a cassette in March of 93.
I recorded it off of a Vancouver mainstream radio station: LG73, Z95.3, Rock 101, 92.9 (Bellingham) or 99.3 the Fox.
I heard it twice on the radio but managed to record it the second time I heard it.
The song was a studio recording, but the crappy quality’s from the stereo/cassette.
The song was played during regular day or evening hours.
This is not a bootleg.
This is not U2.
I thought it was U2 when I recorded it.
The lyrics don’t exist.
I don’t have Shazam but go ahead, give it a try. (ed. note: supposedly this has since been tried with Shazam, with no result)
Nardwuar doesn’t recognize it.
Buzz Bishop doesn’t recognize it.
George Stroumboulopoulos doesn’t recognize it.
All my music guru friends don’t recognize it.
It all drives everyone CRAZY because it sounds so familiar but nobody knows.
This song has been driving U2 fans around the world crazy because it sounds like Achtung Baby-era U2 but it’s not a U2 song. Every U2 song has been documented.
I was a die hard U2 fan. This is not U2.
If you can even make out the lyrics, the only Google searches bring up my failed attempts at trying to figure out this song (going back to the year 2000).
We have concluded that this must be an indie Vancouver-based band that had a fleeting moment of success, perhaps a demo record that got airtime twice, and I just managed to record it.

Help? 🙂

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To listen to the track, head to my Tumblr where I’ve posted the song.