I actually don't think it is, it's my understanding that the NHL-CHL transfer agreement stipulates he has to return to his CHL club if not in the NHL next season since he was drafted from the CHL. I don't think he can play in the AHL or any other pro league anywhere. Could be wrong about that, maybe it's been amended but I'm pretty sure that's the way it was anyway.
Not sure of the transfer agreements between the NHL and SHL or Liiga, usually they have a special kind of contract for junior aged players that allow them to play separately from their pro ELC contract. But in most of those cases the SHL and Liiga clubs have owned their rights longer than the NHL team.
I think the case is different for the Swiss NLA where it's easier to negotiate a loan of a player. That would probably be his best route Europe wise if they did find a way to make it work because SHL and Liiga typically don't play their younger players substantial ice time. On one hand it could make for a very difficult transition being away from family and friends in a new country with a new language(s) with new teammates. On the other maybe it humbles him a bit and he can just focus on the hockey portion of his development rather than being Major Junior All Star big deal in Saginaw guy.
Yeah that's going to be a blow to the CHL for sure. Go get a free education, be a hotshot student athlete with all the girls on campus, play and train in state of the art facilities and dedicated coaching where you play half the amount of games or spend your last teenage years riding a rickety old bus to Flin Flon MB to play in front of 400 half comatose fans.
I suspect they're going to have to rethink a lot of these things fairly sharpish.