A Calgary native, Klimchuk is currently in his fourth season with the Regina Pats of the Western Hockey League. He has 12 goals and 17 assists for 29 points in 26 games and has a plus-9 rating.
The 18-year-old left winger was the 28th overall pick in the 2013 NHL Draft.
The three-year deal is worth US$832,500 with a signing bonus of $92,500 each year and an American Hockey League salary of $70,000 per year. The contract has an average annual value of $925,000