The defending gold medalists fell 6-5 to the host nation on Saturday. The Finns will now play the Swedes in the semifinals. This is the first time since 1998 Canada will not play in the semifinals at the under-20 tournament.
For the first time in 18 years Canada will not play in the semifinals at the world juniors.
The defending gold medalists were bounced 6-5 in the quarterfinals by Finland on Saturday.
Patrik Laine scored twice for the host nation including power play goal with 5:50 remaining in the third for the game winner.
With the win, Finland earned a berth in the semifinals against the Swedes, who blanked Slovakia 6-0 in their quarterfinals match.
Antti Kalapudas, Aleksi Saarela, Julius Nattinen and Sebastian Aho also scored for the Finns. Goaltender Veini Vehvilainen allowed three goals on the first 12 shots of the game before being replaced by Kaapo Kahkonen, who made 20 saves in relief.
The Canadians, who last missed the semifinals at the world juniors in 1998, were led by Toronto Maple Leafs’ prospect Mitch Marner, who scored two power play goals in the third.
Travis Konecny, Dylan Strome and Lawson Crouse had the other goals for Canada while goaltender Mackenzie Blackwood made 23 saves.