Mr. Phillip Thomas reports

ARROWSTAR COMPLETES DEBT SETTLEMENT

On May 16, 2016, Arrowstar Resources Ltd. closed the settlement of $750,390 in debt due to creditors. The company issued 4.06 million common shares at a deemed price of five cents to settle $698,245 in debt and paid $4,500 in cash to settle $51,145 in debt. The common shares issued have a hold period expiring on Sept. 16, 2016.

We seek Safe Harbor.