Penashue said the Elections Canada probe into how his campaign managed its finances will be released for all to read.
"I have my official agent working with Elections Canada and we'll just have to wait until they conclude their work," said Penashue, who was elected in the riding of Labrador by a narrow margin.
"When they conclude their work, it's all going to be public."
Problems with Penashue's campaign have been revealed through a CBC investigation, which showed that — among other things — the campaign overspent its budget, and also made a deal with Provincial Airlines to limit the cost of his flights to $7,000, with the company writing off the remainder.
As well, records showed that the campaign may have received a direct contribution from St. John's construction company Pennecon, in violation of election laws.
Earlier this month, Elections Canada removed from public access some of the records that had been in its file on Penashue's campaign spending.
Penashue has blamed problems with his campaign spending on rookie mistakes as well as his former campaign manager.
Penashue had promised in November to explain everything to his constituents, but instead posted a brief statement on his website. He has said little about the campaign during public appearances.