Police say the incident happened in the early hours of Dec. 29, when the suspect became involved in an altercation with staff members at the restaurant near College and Grace streets.
It is alleged that the suspect assaulted restaurant staff and other patrons, then pulled out a firearm when leaving the premises.
"When he was backing away from the crowd, he allegedly pulled out a firearm," Const. Tony Vella told CBC News in an interview.
"Once he was on the outside of the bar, allegedly he pulled out the firearm and fired a shot in the air."
Police have identified the suspect as 26-year-old Ashton Bell of Toronto.
Bell is described as black, six feet tall and weighing between 250 and 270 pounds. He has black hair.
He is wanted on eight criminal counts, including assault and several firearm-related charges.
Police warn that Bell should not be approached. If spotted, members of the public are asked to call 911.