New Guinea Gold Corp. announced that it has received CAD 0.5 million in funding.
On November 26, 2012, the company announced that the transaction is expected to close as soon as possible and is subject to the approval of the TSX Venture Exchange.
On December 12, 2012, New Guinea Gold Corp. closed the transaction. The transaction included participation from 23 placees. Directors of the company, Arthur Alexander, Gregory John Heaney, and Ces Edward Iewago subscribed for 5,000,000 shares, 19,000,000 shares, and 1,000,000 shares respectively.