First of all, Manny Legace has been released. I don't see another NHL team signing him but wish him luck regardless. Other players cut:
Kellan Tochkin (sent back to Medicine Hat - WHL team)
Anton Rodin, Alex Friesen, Taylor Ellington, Prab Rai, Adam Polasek and Stefan Schneider have been assigned to the Chicago Wolves. Matt Clackson and Nathan Longpre have been released to the Wolves.
Thanks to Jake_Canadian for the heads up.