Semi-Finals: Russia 6, Canada 5 - Summary
It was too little too late for Team Canada, as they scored four goals in the third period to erase a 6-1 deficit but came up short losing 6-5 to the Russians.
For the first time in 10 years, Canada will not be playing for gold.
Dougie Hamilton, Jaden Schwartz, Brendan Gallagher and Brandon Gormley scored in the third period to start the comeback as Brett Connolly added a goal in the second period.
Russia was led by captain Yevgeni Kuznetsov's three goals and four points along with Nail Yakupov's four assists. Alexander Khokhlachev (1-1), Nikita Kucherov and Nikita Nesterov also added goals for the Russians.
Scott Wedgewood started for Canada and allowed four goals on 13 shots and was pulled after the fourth goal after being run into by Russia's Khokhlachev. Mark Visentin came in to replace Wedgewood and made nine saves on 11 shots.
In an interview with TSN.ca, Visentin said he believed in the team the whole time.
"I think we did a great job regrouping in the second intermission. As we started taking it, I don't even think they entered our zone once in the third period. It shows how good we played. That's the type of hockey we need to play for three periods if we want to win. To see us rally like that is incredible."
Meanwhile, Russia's Yakupov didn't really have much to say after the win.
"We Win. We're pretty excited. We beat Canada. Russia's better than Canada.
Russia started goaltender Andrei Vasilevski and made 43 saves but was pulled after the the fifth Canadian goal. Andrei Makarov made eight saves in less than six minutes played.
Russia will play Sweden in the gold medal round, as Canada will battle Finland for bronze.
Semi-Finals: Sweden 3, Finland 2 (SO) - Summary
Max Friberg scored the shootout winner for Sweden as they edged Finland 3-2 to advance to the gold medal game for the first time since 2009.
William Karlsson and Friberg scored third goals to snap a 2-0 Finland lead.
Alexander Ruutu and Joel Armia scored for the Finns.
Johan Gustafsson made 22 saves for Sweden for the win as Finland netminder Sami Aittokallio made 55 saves.
Relegation: U.S.A. 12, Latvia 2 - Summary
Austin Watson (3-4) and Nick Bjugstad (3-2) both had hattricks as the United States went on the dominate Latvia 12-2 in a relegation-round match.
Kyle Rau (1-2), Jason Zucker (1-1), Adam Clendening (1-1), JT Miller, Bill Arnold and Austin Czarnik all scored for U.S.A.
Teodors Blugers (1-1) and Zemgus Girgensuns scored for Latvia.
U.S.A.'s Jack Campbell made 27 saves.
Kristers Gudlevskis made 22 saves on 29 shots and Rihards Cimermanis made 24 saves for Latvia.