The IIO says police received a 911 call about a man with a knife in the 4100 block of Albert Street.
"While one of the RCMP members was en route to that call, it's my understanding that he encountered a male who evidently matched the physical description that was provided by the initial complainant," said IIO spokesperson Owen Court.
"Obviously there was some sort of an engagement between the two during which the man was shot."
Court says the man, whose name has not been released, was taken to hospital where he was pronounced dead.
Court says there is no word on the incident that sparked the 911 call.
No further details have been released.