The British team had been aiming for its first gold in Olympic men's curling since 1924.
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Great Britain have won silver in the men’s curling after losing to Canada 9-6.
Bruce Mouat’s side had only made the semi-final cut by virtue of other results falling in their favour, with their place confirmed just hours before Thursday night’s 8-5 victory against Switzerland.
Mouat, Grant Hardie, Bobby Lammie and Hammy McMillan were looking to upgrade the silver medal they won four years ago in Beijing after their bumpy ride to the final.
Canada had the advantage of the hammer in the first end but were limited to just one point, with Britain taking two in the second end with the final stone.
Two for Canada in third edged them in front, with some loose throws from Britain making Mouat’s final stone a pressure shot, but he rose to the challenge to level the scores.
In what was a tense contest, Canada took the one before the break but with the hammer in the sixth end, Mouat again played the perfect concluding shot with a double take out for two points to put Britain in front.
With each side scoring a point apiece over the next two ends, it was Britain who had their nose in front at 6-5 coming into the ninth end.
Canada set themselves up perfectly for a multiple score and Britain were left scrambling with their final stone to limit the damage, calling a time out before their closing effort fell short, with Lammie slapping his brush head onto an adjacent rink as Canada took three.
Britain had the hammer in the final end but the game looked to be slipping away, with another double take out from Mouat, good but not quite good enough as Canada stole a point to seal victory.
It means Canada wins the gold medal and Team GB must settle for silver in the men's curling for the third time in four Winter Olympics.
The British team had been aiming for its first gold in the Olympic men's curling since 1924.
