The Swiss team beat the Canadians 3-2 following penalty shots after the teams played to a 2-2 draw in regular time, while failing to score in overtime.
Zug native Reto Suri was the hero of the moment for Switzerland, scoring two penalty shot goals, while Canada managed only one penalty goal (Matt Duchene).
Swiss goalie Martin Gerber is credited with keeping his team in the game, fending off several Canadian opportunities during regular time and making seven penalty shot saves.
The victory marks the third time the Swiss have beaten Canada in the past seven years, although the Canadian team is not playing at top strength because of the NHL playoffs under way in North America.
The result follows a 3-2 win for Switzerland against Sweden on Friday, the opening day of the International Ice Hockey Federation tournament hosted jointly by Stockholm and Helsinki.
After defeating hockey’s traditional superpowers, Switzerland leads Group S in the tournament with five points, just ahead of Canada (four points).
Russia leads Group S with six points, followed by Finland (five pints).
A total of 16 teams are playing in the tournament, scheduled to wrap up on May 19th.