In an e-mail to CBC News, IIOBC says it won't elaborate on the wording of the release, but it appears to indicate that the victim in the incident was not armed.
An RCMP officer sustained a non-life-threatening gunshot wound during the confrontation which occurred Saturday. The officer was transported to hospital for treatment.
It remains unclear who may have shot the officer, whether it was an accidental discharge or the officer was shot by another officer or by the victim.
The confrontation happened around 2:30 a.m. PT in a parking area attached to the Semiahmoo Library at 152 Street and 18 Avenue. The building also serves as an RCMP detachment.
IIOBC says police responded to calls about a man who was suicidal and in significant distress.
The agency's release states that, "when officers located the man, a physical struggle ensued, shots were fired and the man did not survive his injuries."
Police on the scene at the time told CBC News that the victim was screaming and described him as suicidal.
Andrea Taggart who witnessed part of the altercation heard the screaming, saying the man was yelling for help before the shooting began.
She also said that she heard up to seven shots fired.
RCMP secured the crime scene and handed jurisdiction over to the Independent Investigations Office of B.C., which investigates incidents of officer-related deaths or serious injuries.
IIOBC says this is the sixth officer-involved shooting that is under investigation by the agency since April 1, 2015.