On May 31, 2016, Clayton Carter resigned as Vice President of Operations and from the board of directors of Freestone Resources, Inc. due to other commitments, and in order to pursue other opportunities. On May 31, 2016, Gerald Johnston resigned from the Board the company due to other commitments. Mr. Johnston will remain as a special advisor to the company.

On May 31, 2016, Jim Carroll resigned from the Board the company due to other commitments. On June 1, 2016, Paul Babb was appointed to the position of Chief Financial Officer of the company by the Board. Mr. Babb's appointment to the position of CFO is effective as of June 1, 2016.

Mr. Babb is a CPA. He has served as the company's Controller and Director of Financial Reporting since July, 2015. He has over thirty years of financial reporting experience in both industry and public accounting.

On June 1, 2016, Mr. Babb and Jason Bailey were appointed as Directors of the company by the Board, and they will hold office as Directors until the company's annual meeting of stockholders. Mr. Bailey is CFO of the Gerald Johnston Family Businesses.