The 26-year-old joins the club from French side Chamonix-Morzine. He has previously iced in Norway.
Prior to moving to Europe, Patterson was drafted and signed a three-year entry-level deal with the NHL’s Calgary Flames in 2009.
He went on to play 120 games in the AHL for Abbotsford Heat and has also made 230 appearances in the ECHL with Utah Grizzlies and Idaho Steelheads.
Player/Assistant Coach Brett Robinson said: “I’ve had the pleasure of playing with ‘Patty’ for two seasons in Idaho and I’m extremely excited to make it a third in Coventry.
“The first thing that our fans will love about him is his skating – he can fly! He has the ability to raise you out of your seat and change the game with his speed from the back-end.
“But, he also fills a lot of other areas for us. He plays a great full-ice, two-way game, and he makes it very tough on other teams with his speed and ability to jump in the rush and add extra offence from a defensive position.
“He comes with good experience in some of the highest leagues throughout North America and Europe and will be expected to eat up high level minutes in all situations for us.
“Particularly, his ability on the powerplay is a big attraction to Danny (Stewart) and myself. He has great vision and his passing ability will be a huge asset.
“Finally, to go along with all of his great qualities as a player, he’s great teammate, a leader and another guy with lots of character.
“We are extremely excited to have him onboard. He is going to play an important role in our success this season.”