The 25-year-old Schmaltz collected two assists in 20 regular-season games with the Blues last season, and nine points (one goal, eight assists) in 36 games with the American Hockey League’s San Antonio Rampage.
The Madison, Wis., native has registered five assists in 42 career NHL games and 93 points (15 goals, 78 assists) in 180 career AHL games.
Schmaltz was selected by the Blues in the first round (25th overall) of the 2012 NHL Draft.
Borgman, a 24-year-old native of Stockholm, had four goals and 13 assists last season with the AHL’s Toronto Marlies. Injuries limited him to 45 games.
He split the 2017-18 season between the NHL and AHL, recording three goals and eight assists in 48 games with the Maple Leafs and had four goals and five assists in 25 games with the Marlies.