MetalsTech (ASX:MTC) raised AU$2 million through the placement of about 13.3 million shares to an ultra-high net worth investor at AU$0.15 per share, according to a Wednesday filing with the Australian bourse.

Proceeds raised will be used for general working capital and the completion of the Pre-Feasibility Study by the end of the year at the company's Slovakia project, the filing said.

Minmetals Securities acted as sole advisor for the placement, the filing added.