I was at Pravda for a couple of friends' birthday celebration this past weekend. This lounge has an interesting vibe, all red with Russian pride. They have free coat check upon entry. Pravda has two floors of lounging goodness. Most folks like my friends, made reservations in advance for their own booth.
Drinks are $8+, a bit on the mid-price end of Toronto's club scene. You could pick the various vodkas they had in your drinks, but be prepared to pay!
The crowd is your average Toronto club scene, mostly everyone is with a group of friends. Music is a mix of top 40 and house, the music added a good vibe.
Pravda has happy hour through out the week, their regular $11 martinis are $5.90! It would be definitely worth checking out.