Toronto police are investigating after shots were fired and one person was stabbed at a banquet hall in Etobicoke on Friday evening.

Police were initially called to the venue in an industrial plaza near Highway 27 and Steeles Avenue West just after 9:30 p.m. for reports of gunshots.

While police were on the scene, they received information about a victim at a hospital with stab wounds and that “it’s related to whatever happened at the banquet hall,” Const. Laura Brabant said.

The victim's injuries are life-threatening.

“And then sometime during all of this investigation, officers arrested one person and recovered a firearm,” Brabant said.

She cannot confirm where the arrest and the discovery of the firearm occurred.

It is also unknown if anyone was injured at the banquet hall, where an event was happening at the time. Police at the scene later told CP24 that 10 to 15 shots were fired and are canvassing area hospitals for possible victims.

One person who was inside the venue told CP24 he heard several gunshots.

“Two times I heard, pop, pop. What I thought it was a balloon,” he recounted. “But after I heard a third and a fourth one, I realized I had to get down flat and try to be safe.”

He said there was a celebration of life event for his friend, and there were about 50 people when shots were fired.