This deal would've been an exchange of underperforming contracts. Labanc, 27, is entering the last year of a deal in which he makes an annual $4.725M. The winger collected a shallow 33 points in 72 games this year in a miserable Sharks lineup.
Myers, on the other end, still costs the Canucks a $6M AAV on the books. Canucks could have shed an additional $1.3M for next season, while both contracts are set to expire at the end of next season.