It does not matter. If he was under contract TFC is not required to offer him a new contract. Sure, Cann can use whatever leverage he thinks he has try and renegotiate his contract, but it does not mean TFC have to.
When a player does this the team balances the difference between what the additional cost will be vs. losing the player. It's clear Winter felt a new contract was warranted because he offered the player two new options. However, Cann clearly thought the new offers were not what he feels he should be paid for his services and decided to walk to put pressure on TFC.
What has become apparent is Winter does not have Cann on the exalted throne many fans do and does not feel Cann is worth the money he's asking. I think I'll go with Winter's judgment on a players worth - not the player.