Scott Radley has a good article in the Spec on the possibility of Sherbrooke receiver and Ticat draft pick from 2008 Samuel Giguerre coming to the Ticats now that he's been cut by the Giants, ostensibly due to a groin injury.
Radley mentions that signing him would mean cause roster problems, leading to somebody else getting the boot. But it doesn't have to! The solution, the nine game injury list. Giguerre is in theory injured anyways, and would probably take time to get him up to speed while taking up a roster spot. Plus salaries on the nine game injury list don't count against the salary cap. So sign him to a two year plus an option deal, front load it so less counts against the cap while he is on the nine game list and there you go. Of course you're screwed if he's a bust, but that happens all the time (cough, cough Kenton Keith). Or the Cats can just trade his rights to Montreal for a smoked meat sandwich (I'm serious, I can see this happening).
One interesting question is Giguerre better off if he would have just signed here initially and skipped the three practice roster years in the NFL? Giguerre would probably have made more on the practice roster, since CFL rookies get paid little, but he probably would have made it to the active roster and developed into a quality receiver by now. Hard to know and the possibility is always there for the big score of making it on an active NFL roster once you're in training camp.
Finally, maybe Giguerre just sucks. It is a possibility. Lots of players get a few sniffs in the NFL, come down to the CFL and are never heard from again. Rarer for a non-import, but it does happen. I predict with Giguerre though, that if the Cats don't sign him, there's plenty of other teams in the CFL that will have interest.