Toronto police have identified a man and woman in their 20s as the victims of a shooting at a Toronto nightclub earlier this week.

Shots were fired in two areas on the Exhibition Grounds approximately 3:20 a.m. on Tuesday, police said. One of the shooting victims was fatally wounded inside Muzik nightclub, while the second was found just blocks away near the Dufferin Gates on the grounds.

The shootings occurred as the nightclub began to close down following an event hosted by rapper Drake in connection with his two-day music festival OVO Fest.

In total, two people were killed, and three more were taken to hospital. One of the injured victims has since been released.

The victims have been identified by police as Duvel Hibbert, 23, of Brampton, and Ariela Navarro-Fenoy, 26, of Toronto.

Hibbert was known to police. Sources told CTV Toronto's Tamara Cherry he was a member of the Hot Heads Crew, a street gang from Malton.

Prior to the nightclub shooting, Hibbert had appeared in court for a number of charges including assault, extortion and robbery. The 23-year-old was also serving a three-year sentence on a gun charge when he skipped out on his parole.

Friends and family of Hibbert have yet to speak to media, but a crowdfunding site set up on GoFundMe.com to raise money for his funeral expenses said he was "always there for anyone he cared for.

"During this difficult time we appreciate all the love and support... Let's send him home like a boss," a message on the page said. As of 3 p.m., the page had raised $220 of its $15,000 goal.

Friends told CTV Toronto described Navarro-Fenoy as a woman who was "always smiling."

Colleagues told CTV Toronto that Navarro-Fenoy had spent some time working at both the Foot Locker and Sephora stores at Yorkdale Shopping Centre.

"She was always smiling with that beautiful smile," a friend of Navarro-Fenoy wrote on a crowdfunding page set up in the victim's name.

The page was set up on GoFundMe.com to raise money to cover the costs of Navarro-Fenoy's funeral. As of Wednesday afternoon, it had raised $14,000 in 19 hours. 

"We just spoke yesterday, who would've thought I'd be posting this today," one person wrote on the site.

"My God rest your beautiful soul Ariela. I'm still in disbelief," another posted.

The investigation into the shooting that claimed the lives of Navarro-Fenoy and Hibbert is ongoing.

Police said two persons of interest have been identified so far, but they have not specified what they believe their role in the shooting may be.

One of the persons of interest has been described as a black man who is approximately 25 years old and six-foot-one with a buzz cut. He was seen wearing a light-coloured purple sweater with a colourful design on the front, and was fleeing the club at the time.

The second person being sought by police was seen at the shooting scene near the Dufferin Gates. He has been described as a brown man with a skinny build who is between the ages of 24 and 28. He's approximately five-foot-10 and was wearing a yellow and burgundy plaid shirt at the time.

"What we are asking for is people to find the courage to pick up the phone and call us," Toronto Police Insp. Peter Moreira told reporters on Tuesday.

"This is a cowardly act where the perpetrators rely upon the fear and silence of a great number of people."

Anyone with more information is asked to contact police at 416-808-1400, or Crime Stoppers anonymously at 416-222-8477 (TIPS). They have also set up a website where witnesses can upload photos and videos taken at the club.

With files from CTV Toronto's Austin Delaney, Colin D'Mello and Tamara Cherry