The Avs insiders I follow believe he was never offered a contract by Colorado which in one sense is pretty disappointing for a #40 pick but is also indicative of the Avs roster situation. Many believe he still has a solid chance at an NHL career as a bottom 6 forward. He'll have to spend some time in the AHL first. Two years is the max length contract someone his age can sign.
If Colorado didn;t have Martin Kaut and Shane Bowers waiting in the wings and also need as much cap as possible to re-sign Landeskog, Makar, Burakovsky, Graves, Jost and others he would likely have been signed by the Avs.
though it is unclear after Googling whether the signing bonus is paid out only if the player in the NHL roster. I *think* he would receive the signing bonus, but not positive.