I wouldn't do this in Draw since you're working with a bitmap. I'd use Photopaint. Just do an Image/Convert to duotone, choose your pantone colors, do whatever else tweaking you want, and *save it as a CPT* file. (you don't want to save it as a JPG since JPG is a lossy format.
Import the CPT into Draw and the PMS colors will separate to their proper plates (if you look in print preview).
The "printer" you referenced is technically a copier (as that is how Toshiba markets it) and while it does do color, it only does CMYK and not PMS, so all PMS colors have to be mixed down to CMYK values. So if you're trying to print it all on this printer, it doesn't really help you to change anything to PMS colors.
If you're sending this out of the office for professional printing, just do as I mentioned above and then publish a PDF of the file and the service bureau will have the tools to print you mono/duo/tri/quadtone image in PMS values.
If you're really only wanting to print in b/w, just take the photo into Photopaint and save it as an 8-bit greyscale image and then bring it into Draw. At that point it will only use the black toner.
Of course there's always the option when you print to go to the Print dialog box and on the MISC tab there is a radio button to print "all colors as greyscale" and then you don't have to do any color conversion.