Schmaltz agreed to terms on a contract with Finnish side HIFK Helsinki on Wednesday, Patrick Williams of NHL.com reports.
Schmaltz was released from his professional tryout by the Coyotes on Wednesday, per TSN.
Schmaltz signed a professional tryout agreement with Arizona on Monday, Elliotte Friedman of Sportsnet reports.
The Islanders acquired Schmaltz from Toronto in exchange for Matt Lorito on Monday, Bob McKenzie of TSN reports.
Schmaltz was brought in by Toronto from St. Louis in exchange for Andreas Borgman.
The Blues placed Schmaltz on waivers Sunday, Elliotte Friedman of Sportsnet reports.
Schmaltz will be a healthy scratch for Monday's game against the Rangers, per Lou Korac of NHL.com.
The Blues will need to make a decision on Schmaltz once Robert Bortuzzo (lower body) returns from injured reserve.
Schmaltz made the Blues' 23-man roster.
Schmaltz recorded a short-handed goal and a minus-2 rating in 21:45 of ice time during Sunday's 5-2 loss to the Capitals.