According to TSN:
Jordan Leopold traded from Avalanche to Flames for Lawrence Nycholat, Ryan Wilson (prospect) and a 2nd round draft pick (that is a Montreal pick from the Alex Tanguay deal). Leopold is making $1.5m this year.
The deal makes sense to me because Leopold will be a UFA on July 1st, so the Avs get something in return for a guy that they could possibly lose for nothing this summer. He's currently making Leopold had his best NHL years so far when he was in Calgary before. He's the puck moving defenseman that almost every team is trying to get their hands on this time of year.