Just hours after the Flames announced the signing of Morton, the NHL central registry rescinded the entry level contract because Morton is too old to qualify for such a deal. Players signed to entry level deals need to be 24 or younger. Due to his late birthday, Morton will be 25 years old when next season begins, making him ineligible for this deal.
It's honestly an embarrassing mistake on Conroy's part to not be aware of this league rule. Having the deal go as far as to be rescinded by the NHL central registry simply makes Conroy look unprepared and ignorant - not traits you'd want to see in a General Manager. It's also a terrible look on the agent who signed the deal. For these reasons, it seems very unlikely that Morton will even go on to finalize a deal with Calgary.