BoltProspects has confirmed that Tampa Bay no longer retains the rights to prospect forward Justin Courtnall, the Lightning's last pick in the 7th round of the 2007 NHL Entry Draft. Courtnall was drafted out of BCHL Victoria and normally would have to be signed two years after his draft date, but it was thought that the Lightning would retain his rights while Courtnall continues his hockey development at Boston University. It's unclear at the time of this report why the Lightning do not retain Courtnall's rights, but it is speculated that perhaps Courtnall is not attending BU on a scholarship and perhaps that is the reason why Tampa cannot retain his rights without a contract. BoltProspects will update this story as more information is revealed.
UPDATE: The loss of Courtnall's rights had nothing to do with whether or not he is on scholarship at BU, but solely because he was not already in an NCAA program when the deadline to sign 2007 draft picks passed.