TORONTO -- Some 1.5 million jubilant Raptors fans packed downtown Toronto on Monday for a championship parade that included a shooting and problems with overcrowding.

Two people have "serious but not life-threatening" injuries in connection with the shooting, and two people have been placed in custody, according to police in Toronto. Two firearms were also recovered.

"We have no incidents currently underway. Crowds are dispersing,'' Toronto police spokeswoman Allison Sparkes said.

Asked if it was a targeted shooting or terrorism-related, Sparkes said the investigation was underway.

The shooting occurred at Bay Street and Albert Street on Nathan Phillips Square, which was packed with fans celebrating the Raptors' NBA title.

During a speech from one of the team owners, the host of the rally interrupted the proceedings to say there were dealing with an emergency situation and asked for calm. Canadian Prime Minister Justin Trudeau; Toronto's mayor, John Tory; Raptors star forward Kawhi Leonard; and other Raptors players were among those onstage at the time. They remained in place, and speeches resumed shortly after.

Mike Mudidi said he was enjoying the celebrations when he heard screams behind him that someone had pulled out a gun. He said he froze as people started running in all directions.

"I just grabbed my buddies' hands and ran,'' he said, noting he was startled but otherwise OK.

Police also dealt with overcrowding at the end of the parade route and had to lift those seeking safety over barricades to help them escape the crowd. A child who was lifted over a barrier and onto a stretcher was among those evacuated.

City officials prevented any further entry into the square and have shut down several subway stations near the parade due to overcrowding.

Tory previously urged every resident to come celebrate the Raptors' first championship and declared Monday "We The North Day" in Toronto, after the franchise's slogan.

Rapper and Toronto native Drake, among the Raptors' best-known fans, was celebrating alongside the players on one of the parade buses.

Nicolas Caramanna, 21, said the crowd started to get rowdy shortly after he arrived at 9 a.m.

"I'm really hot and tired, but I'm going to stick around," he said. "When else am I going to get a chance to do this?"

Many others chose to miss school or work. Cypher Sabanal, 15, said his mom let him skip class to attend the celebration.

"I actually have exams this week, but being here is worth it," he said.

John Moreira called in sick to work so he could be part of Toronto's first celebration of this magnitude since the Toronto Blue Jays won the World Series in 1993.

"I told my boss I wanted to be at the parade, and he said there wasn't much he could do if I called in sick, so that's exactly what I did," the 31-year-old said. "I'm looking forward to seeing the whole team. They all work so hard and deserve all the fans being out here."

As the parade inched forward -- discernibly behind schedule -- a number of Raptors could not help but marvel at the fan response.

"It's been amazing," Leonard said. "Thank you, Toronto, thank you, Canada for the support -- we did it."

Several fans were seen carrying signs imploring Leonard to re-sign with the Raptors. The two-time Finals MVP will be a free agent this summer.

Star guard Kyle Lowry, the team's longest-serving member, was seen hoisting the Larry O'Brien Trophy while his teammates smoked cigars.

"This is unbelievable," he said.

The Associated Press contributed to this report.