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4 People Shot at Parade

4:00 PM PT -- Cops now say there were 4 people who suffered gunshot wounds in the parade shooting.

They also say they've now arrested 3 people.

1:24 PM PT -- Police say they have arrested 2 suspects and recovered 2 guns after an alleged shooting at the Toronto Raptors championship parade Monday.

Cops also say two people are being treated for "serious" injuries -- but the injuries are not life-threatening. The investigation is ongoing.

The championship parade continued after the shooting -- with Drake taking the stage and telling the reported 1.