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NOVA CORPORATION OF ALBERTA SIGNS UNDERWRITING AGREEMENT

 NOVA CORPORATION OF ALBERTA SIGNS UNDERWRITING AGREEMENT
 CALGARY, Alberta, Jan. 15 /PRNewswire/ -- NOVA Corporation of Alberta (NYSE: NVA, Toronto, Montreal: NVA) announced that it has signed an underwriting agreement with a group of Canadian investment dealers for the sale in Canada, on an underwritten basis, of 35 million NOVA common shares at $7.15 per share. The estimated net proceeds of approximately $240 million will be used to reduce non-cost-of-service debt.
 A preliminary short-form prospectus will be filed with securities regulators in Canada.
 NOVA is a widely held company operating internationally from headquarters in Calgary, Alberta, Canada. NOVA builds its future on pipelines, and the manufacturing and marketing of chemicals processed primarily from Alberta natural resources.
 -0- 1/15/92 R
 /CONTACT: R.C. Milner, 403-290-7788, or C.A. Read, 403-290-7807, both of NOVA Corporation of Alberta/
 (NVA) CO: NOVA Corporation of Alberta ST: Alberta IN: OIL SU:


CH -- LA008R -- 0170 01/15/92 16:25 EST
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Publication:PR Newswire
Date:Jan 15, 1992
Words:157
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