Two 16-year-olds, who were arrested in connection with the fatal stabbing of 14-year-old Devan Bracci-Selvey, have been released without conditions.

The teens, one male and the other female, were taken into custody Tuesday. They were released without charge after being questioned about the homicide, police said Wednesday.

A 14-year-old and an 18-year-old, both males from Hamilton, were charged with first-degree murder on Tuesday.

Under the Youth Criminal Justice Act, the younger teen can't be identified, and a court-ordered publication ban is in place, meaning the 18-year-old man also can't be identified.

Det.-Sgt. Steve Bereziuk said the two were charged with first-degree murder because investigators are "satisfied based on evidence that there is some element of pre-planning."

One other suspect was also arrested but later released without conditions. Police said they're not searching for anyone else.

Devan was attacked, in front of his mother, outside Sir Winston Churchill Secondary School on Monday afternoon. He later died in hospital.

Devan, pictured, was identified Monday as the teen who was fatally stabbed outside Sir Winston Churchill Secondary School. (Selvey Family)

An obituary for Devan said his family is "devastated" by the death of the teen, who was passionate about old cars, video games and animals.

His funeral will be held Saturday afternoon.

Several blocks behind the school had been taped off for the past two days, but police said the scene has now been released.

Investigators said they found the knife believed to have been used in the stabbing during a ground search Tuesday.

"This entire incident is disturbing," said Bereziuk. "It's difficult to comprehend right now, to be honest with you. I can't imagine the way the [victim's] family feels right now."

Police said they will be providing an update on the investigation at 4 p.m. ET.