Toronto police have made an arrest in connection with the death of a 24-year-old man in Liberty Village on New Year's Day, 2012.

Mike Pimentel was leaving a New Year's Eve party when he became involved in a confrontation with a man in Liberty Village, police said. He was stabbed several times at approximately 2:30 a.m., and died in hospital later that day.

Police said they'd gathered several clues at the time, including surveillance video showing two suspects, but they made no arrests and the case went cold.

Officers began to consider the possibility that the suspect was not from the Toronto area, Staff Insp. Greg McLane said at a news conference Thursday.

Officers worked with national and local police forces across Canada to identify a suspect based on evidence and reports from witnesses, McLane said.

Last week, Calgary police arrested 30-year-old Shawn Poirier on a Canada-wide warrant. Poirier was transported to Toronto, where he has been charged with second-degree murder.

McLane said officers are still looking to speak to several witnesses.

"There was a taxi driver that was directed to pick up Mr. Poirier in the area of Lake Ontario that morning," McLane said.

"We would like the taxi driver to come forward and speak to investigators, as we believe that you have valuable information to impart to us that may further our investigation."

Anyone with more information is asked to contact police at 416-808-7400 or call Crime Stoppers anonymously at 416-222-8477 (TIPS).