The 26-year-old Norwegian was acquired by the Colorado Avalanche at the trade deadline in exchange for Sven Andrighetto.
Martinsen was scoreless in nine regular-season games with the Habs last year, and did not record any penalty minutes. In 64 total games in 2016-17 - his second in the NHL - the left winger registered seven points (3G, 4A), and 32 penalty minutes, with an average of 9:57 time on the ice.
In the playoffs, he suited up for two games in the first-round series against the New York Rangers, finishing with a minus-1 differential, no points and three shots on net.
Martinsen finished second on the team in hits last year with 173, and added nine in the playoffs.
In 119 career games with the Avalanche and Canadiens, the 6-foot-3, 220-pound Martinsen - who was never drafted - has scored 18 points (7G, 11A).