Police have identified a man killed during an early morning shooting on Saturday at a birthday party.

Christopher Holder, 32, died from gunshot wounds he received at about 5:10 a.m. at 624 Oakwood Avenue in the Vaughan Road area. He was a father to two young children and the owner of an urban clothing store.

Holder was killed in the basement of his business during what is described as a late-night birthday party. Police believe he was the intended target of the shooter.

"I do, actually, believe Mr. Holder was a target," Det. Sgt. Pauline Gray said Sunday, but she would not comment on why. However, she did say that the victim was known to police.

A second man, who has not been identified to protect his safety, is in critical condition with wounds to his chest, according to police.

Sources told CTV's Austin Delaney that the business was regularly used as an after-hours club, or so-called 'booze-can.'

After police arrived at the scene Saturday morning, both shooting victims were rushed to hospital and officers launched an investigation. Police said between 40 and 50 people were inside the building when the shooting began.

The crowd scrambled to get out, even running over bodies to get away. Only two of the witnesses have come forward with information, frustrating investigators.

"Regardless of if it was a birthday party or a booze-can, somebody came in and opened fire on a group of 40 to 50 people, and that should make people angry," Gray said.

"It should make them angry that they can't go out to a nightclub or they can't go out to a birthday party and not worry about being shot."

"I think that should motivate them to come in and help us find this gunman," Gray added.

On Sunday, police received a first-degree murder warrant for a suspect in the case. Wendel Christopher Blackman, 30, is being sought by investigators.

Police are encouraging Blackman to contact a lawyer and turn himself in to police or call Det. Sgt. Pauline Gray or Det. Ian Briggs of the Homicide Squad at (416) 808-7400.

Investigators also ask anyone with information about the incident to call police or Crime Stoppers at (416) 222-TIPS (8477).

With a report from CTV's Austin Delaney