Pelletier is still a member of the Flames organization, but his name is becoming more and more associated with the Canadiens. As mentioned by Charles-Alexis Brisebois of Danslescoulisses.com, it was discussed on the Sick Podcast hosted by TSN 690 tipster Tony Marinaro.
The latter had Craig Button, who is very knowledgeable about NHL prospects, as a guest, and he said he wouldn't be surprised if Pelletier was traded to Montreal by March 21. However, now that Ben Chiarot is gone, it would be more like a Christian Dvorak (+ a pick) or an Artturi Lehkonen.
Button said that the Flames are serious Stanley Cup contenders and that GM Brad Treliving will likely want to add to his team. Please note here that Craig Button is the brother of Tod Button, the Calgary Flames' Director of Recruiting.
It must be said that this season in the AHL, Pelletier is having quite a season with the Stockton Heat, where he is averaging one point per game with 48 points in as many games.