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Anthony Smith, 21, was fatally shot outside the Loki Lounge on King Street West last Thursday. (Facebook)

Toronto Police have issued a warrant in the killing of Anthony Smith, the 21-year-old Toronto man gunned down outside a King Street West nightclub last Thursday.

Police say Nisar Hashimi, 23, faces charges of first-degree murder and attempted murder while using a firearm.

Smith was shot in the back of the head outside the Loki Lounge at the corner of King Street West and Portland Street in what police say was a targeted attack that happened just after 2:40 a.m. A second victim was also shot but survived.

Det. Joyce Schertzer said Toronto police had negotiated Hashimi’s surrender with his lawyer, but said Hashimi failed to honour the agreement and remains at large.

"My advice is to turn yourself in to police immediately," said Schertzer. "Every police officer in Toronto has your picture. Speak to a lawyer and surrender yourself today."

Schertzer also said police have watched and downloaded surveillance footage from the scene but say there are dozens of witnesses who have yet to come forward.

Anyone with information is asked to contact police immediately.