A man in his 40s has died following a shooting at a commercial plaza in Toronto's east end on Saturday night, police said.

Police responded to calls about gunshots at a commercial plaza near Victoria Park Avenue and Sheppard Avenue East at just before midnight Saturday.

A male victim with gunshots was located at the scene, said police in a post on social media. That man has now been pronounced dead.

Police said suspects fled the scene and a homicide investigation is ongoing.

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