Nearly three dozen people have been arrested as a result of a police investigation dubbed "Project Pharaoh."

Officers said 50 search warrants were executed across southern Ontario early Thursday morning, in an area spanning from Barrie to Hamilton, and 35 people were arrested as a result.

Raids were also executed in Toronto, Peel, Halton, Bradford, Durham, York, Niagara and St. Catharines areas, police said.

The search warrants were part of an investigation that began in September, involving federal, provincial and local police forces. More than 700 police officers were involved.

The investigation targeted a street gang known as "Monstarz," Toronto Police Insp. Bryan Bott said at a news conference Thursday.

Bott said the gang operates in the northwest quadrant of Toronto, but added that their investigation led officers to areas outside the city's boundaries.

"I think that speaks to their sophistication," Bott said.

"I don't think we're dealing with a street gang, I think we're dealing with a mid-level gang."

A number of firearms were seized in the raids, conducted simultaneously at 5 a.m. on Thursday. Police also seized approximately $45,000 in cash, several vehicles and a large quantity of drugs.

Bott said 35 people were arrested on Thursday, and 27 have been arrested at earlier dates in connection with the investigation.

The investigation is ongoing, and more information will be made available at a news conference scheduled for 11 a.m. on Friday morning.