Klimchuk, a Calgary native, was the 28th player taken in the draft and the third of the Flames' three first-round picks.
Klimchuk, a 6-foot, 182-pound forward, is in his fourth season with the Regina Pats of the Western Hockey League. He has 12 goals and 29 points with a plus-9 rating in 26 games.
The contract has an average annual value of $925,000.
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