01:09 PM EDT, 10/06/2025 (MT Newswires) -- Arianne Phosphate ( DRRSF ) shares rose to a 52-week high as the company on Monday said it received conditional approval for funding from the Government of Canada under the Critical Minerals Research, Development and Demonstration program.

The company said the grant of up to $735,000 will be used to advance the company's work on producing purified phosphoric acid fro its Lac-Paul project in Quebec's Saguenay-Lac-Saint-Jean region, a key ingredient used in lithium-iron-phosphate battery materials.

"Having recognized phosphate as a critical mineral in 2024, we appreciate the Canadian Government's continued support of phosphate, and our company. This grant will help in the development of a vital industry," said chief operating officer Raphael Gaudreault.

Shares of Arianne Phosphate ( DRRSF ) were last seen up by $0.05 to $0.26 on the TSX Venture Exchange, topping its prior 52-week high of $0.25.

Price: 0.26, Change: +0.05, Percent Change: +23.81