While both moves are obviously about planning for the future, this - in no way, Treliving says - is an indication the Flames are "throwing in the towel" for the season.
However, with a flat cap, the upcoming Seattle Kraken expansion draft looming on the horizon, and roles being re-defined based on the construction of this roster, it made sense to cash in, while staying in the fight.
"From a media perspective, you want to define it easily as buying or selling," Treliving said. "Obviously, when you're in a real good playoff spot, you usually aren't taking anything off your roster. When you're not in a good playoff spot, you more than not looking to see the value of expiring contracts and whether there's interest, or what the market will bear.
"The other piece, is I think I was on both sides. We looked at acquiring players here today - certainly not necessarily from a rental basis or expiring-contract basis, but if there were things that could help us now, and if there were things with term moving forward, certainly we explored all avenues.
"I had a hand in both pools today.
"This is what transpired."
In Heineman, the Flames are getting a solid prospect who was taken in the second round - 43rd overall - in last year's draft.
The 6-foot-1, 185-lb. right-winger had seven goals and 13 points in 43 games with Leksand of the Swedish Hockey League this year, and was lauded by scouts for his dangerous combination of straight-line speed, competitiveness, and an elite shot.
The Panthers, meanwhile, are getting a perennial, playoff pugilist, who - in four trips to the dance - has 11 goals, 19 points, and a reputation as one of the most physical players around.
In 402 regular-season games with the Flames, Bennett had 67 goals and 140 points. He was the highest pick in franchise history, going fourth overall in the 2014 draft.
"Sam and I had a good chat up in my office," Treliving said. "We came here at the same time. I got hired, and the draft was a month later and Sam was our first pick. We go back ever since I got here. We arrived at the same time.
"There's been lots of ups and lots of downs. It hasn't gone perfect, but at the end of the day I try to separate that. He's good kid, he's a real good kid. But you also have to make business decisions and we made one here.
"We had a good chat and always told him if there's anything I can ever do for him moving forward … You like to have that relationship with your players, but at the end of the day you have to make business calls.
"That's the job when you're sitting in the seat and that's what we did today."