The PowerShot G12 from Canon has been rumored for a little while now, and specifications had been part of that from the get-go. An optical viewfinder was one of those attributes, but according to a photograph of the rumored device, apparently a few things have changed since its last rumor. Delivered to Canon Rumors, which you can tell the main focus of that site, this is what the new Canon PowerShot G12 reportedly looks like now.
Removing the optical viewfinder from the camera may have been a decision to make the camera smaller, as a whole. With it gone, the camera can actually be reduced in size quite a bit, making the lens look larger, and making it necessary for the camera to have a pop-up flash. Which you can see in the image above. The pop-up flash and viewfinder changes are the only differences that can be perceived so far.
As far as releases go, it's still believed that Canon is going to officially unveil the camera along side their EOS 60D. That's reportedly supposed to be on or before August 26th, so we don't have long to wait at all. Of course, when Canon does announce the camera, all of this speculation will be shot down in one way or another, and we'll finally have some "official" means to judge this rumored device.