Each contract reportedly is a two-way deal, according to Michael Russo of the Minneapolis Star-Tribune. Financial details were not disclosed.
Schroeder, 23, was a first-round pick (No. 22) by the Vancouver Canucks in the 2009 NHL Draft. The Minnesota native played two seasons at the University of Minnesota, with 73 points in 72 games.
He has six goals and 15 points in 56 NHL games, including three goals and six points in 25 games for the Canucks in 2013-14. Schroeder has 47 goals and 115 points in 192 games in the American Hockey League with the Manitoba Moose and Chicago Wolves. Vancouver declined to extend a qualifying offer to Schroeder after last season, making him an unrestricted free agent.
Blum, 25, was a first-round pick (No. 23) by the Nashville Predators in the 2007 NHL Draft and spent the 2013-14 season in the Wild organization. He had no goals and one point in 15 games for Minnesota, and seven goals and 29 points in 54 games for Iowa in the AHL.
The Californian has seven goals and 23 points in 106 NHL games. He has yet to play more than 35 games in one NHL season.