The Montreal Canadiens are signing forward Alex Newhook to a four-year contract carrying an average annual value of $2.9 million, Sportsnet's Elliotte Friedman reports.

Montreal acquired Newhook from the Colorado Avalanche prior to this year's draft for the 31st and 37th overall picks as well as defensive prospect Gianni Fairbrother.

Newhook became a restricted free agent upon the expiration of his entry-level contract this summer.

The 22-year-old was drafted 16th overall in 2019. He's collected 66 points in 159 career games, including 30 across a full season in 2022-23.

Montreal is currently operating above the league's $83.5-million salary limit but can become cap-compliant before the regular season begins by placing Carey Price's $10.5-million cap hit on long-term injured reserve.

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