Toronto police Sgt. Craig Harris told CBC News that the altercation began unravelling near Grado Villa Way, near Leslie Street and Sheppard Avenue East, at about 12:30 a.m.
One of the victims was found near Finch Avenue East and Page Avenue, about three kilometres away. He was sitting by himself on a curb.
Harris said the two victims each suffered single stab wounds. One person was arrested, however, police are still seeking additional suspects.