Defencemen Adam Pelech and Derrick Pouliot and forwards Francis Beauvillier, Sean Monahan and Tyler Graovac were cut, dropping the number of players competing for 23 spots on the team to 32.
Four goalies, 10 defencemen and 18 forwards remain.
Another nine hopefuls are expected to be released Thursday following an exhibition game against Canadian university players.
Canada's roster for the upcoming world junior hockey championship in Ufa, Russia, will also be named then.
Canada lost 4-1 in Wednesday's exhibition game to the University of Alberta.Suggest a correction