Vegas, who earlier in the day traded goalie Logan Thompson to Washington, now get a replacement backup option for the Knights netminder tandem.
Schmid, 24, had a 5-9-1 record for the Devils this season in 19 games, along with a 3.15GAA and .895SV%.
Alexander Holtz, a former first round pick of the New Jersey Devils, was a highly valued forward out of Sweden when he was drafted 7th overall in the 2020 NHL Entry Draft.
Holtz, who finally broke in to New Jersey's forward lineup after struggling to adapt to the difference of North American style hockey, Holtz had 12 goals, 16 assists & 28 points in 82 games for New Jersey this season.
Cotter, acquired by New Jersey, is a highly physical, defensive-minded center. Cotter, 25, had 7 goals, 18 assists & 25 points in 76 games for the Vegas Golden Knights in 2023-24.
