Armstrong will be placed on unconditional waivers until Sunday when he will be an unrestricted free agent.
“Thanks to the leaf nation for the support over the last couple seasons. Although I had tough luck thanks for everything.” Armstrong said via twitter.
Armstrong was in the last year of his contract with a $3 million dollar cap hit. The move frees $2 million towards the cap hit this season however the Leafs will have to pay Armstrong $1 million over the next two years counting against the cap.
Armstrong was hampered by injuries during his career as a Leaf. Over two seasons Armstrong played only 79 games. He only played 29 games, had three points and was -8 in the 2011-2012 season.