The two women, believed to be 19 and 20 years old, were at a private function.
They were wounded when multiple shots were fired in the parking lot of the Sapphire Banquet Hall at 959 Derry Road East, at about 4:30 a.m.
Both women were taken to hospital with non-life-threatening injuries. They were released early Saturday afternoon.
Police have not provided any details about suspects.
The names of the injured women have not been released.