Owned by "JC", Ken Sprackman, Craig Laskey, Naomi Montpetit, and the late Michael "X-Ray" MacRae, the venue is a significant part of Canadian musical lore.

The Horseshoe has supported up and coming Canadian artists through programs such as Dave Bookman's Nu Music Nite, a regular Tuesday showcase.

In 2023, several musicians withdrew their performances from the Horseshoe in response to the venue's cancellation of a pro-Palestine fundraiser and contentious emails from co-owner Jeff Cohen.

[9] In 1978, the tavern was the setting for Colin Brunton's punk rock documentary The Last Pogo, featuring The Scenics, The Cardboard Brains, The Secrets, The Mods, The Ugly, The Viletones, and Teenage Head.

The Horseshoe was featured on Live on MTV in September 1997, when the Rolling Stones began their Bridges To Babylon Tour there with a 75-minute show.