Kapanen was loaned to SHL club Timra IK on Wednesday.
Kapanen has already appeared in 12 games for the Canadiens this season, burning the first year of his entry-level contract even with the move overseas. In those appearances, the 21-year-old center notched two assists, 13 shots and one hit while averaging 11:38 of ice time. Once the SHL season wraps up, Kapanen could rejoin Montreal for the final games of the campaign.