Newfoundland and Labrador Based Entrepreneur and Businessman
Glen McKay's Bio:
As an entrepreneur, executive and financial consultant, Glen McKay has made his mark across a swath of business sectors – from finance to resource exploration and development to product supply.
For the last 33 years, McKay has been associated with Newfoundland Hard-Rok Inc, a privately held explosives manufacturing and drilling and blasting company that he founded and currently serves as chairman of the board, with responsibility for its finance and administration.
The company was part of an earlier McKay startup, MRO Supplies Ltd, which specialized in equipment sales for a variety of industries, including mining, forestry, fishery and construction. In 1987, McKay spun off Newfoundland Hard-Rok Inc., selling part of it to two MRO employees who continue on as its operations managers and McKays’ partners. Today, Newfoundland Hard-Rok Inc is the largest explosives manufacturing and drilling and blasting company in Newfoundland and Labrador.
At the same time the spinoff occurred, McKay invested the necessary capital to help start up Apex Construction Specialties Inc. He served on the board, and maintained an ownership position, of this privately held construction and building products firm until its sale to a Quebec based investment group in 2017. At the time of Its sale it was the leading supplier of commercial and industrial building products in Newfoundland and Labrador.
Glen McKay’s interests also have extended to resource exploration, which led to his co-founding of Cornerstone Capital Resources Inc in 1997. Under his leadership, the company has achieved substantial growth beyond Canadian borders – notably with successful explorations in Ecuador and Chile.
In 2011, during McKay’s tenure as Cornerstone’s president, CEO and vice chair, the company’s acquisition of the Cascabel project in Ecuador was completed successfully. Cascabel has emerged as a new, world-class mining deposit that has been compared to Rio Tinto’s Oyu Tolgoi copper mine in Mongolia. He stepped down from the company in 2012 but retains a significant ownership share in it today.
In addition to his ongoing association with Newfoundland Hard-Rok, Glen McKay manages his privately held Sealan Capital Corporation Inc, the consultancy he launched in 1979 and continues to run today. Through Sealan, he works on private and public equity investments and also is involved in residential and commercial leasing.
Glen McKay graduated high school in Springdale, Newfoundland, then tested the water in hardware and equipment sales before launching his first business, MRO Supplies Ltd in 1978.
Glen McKay's Experience:
Chair of the Board of Directors, Co-Founder at Newfoundland Hard -Rok IncAugust 1985 - Present | Newfoundland & Labrador, Baffin Island
In 1985 Glen McKay was appointed the NL distributor for DuPont Explosives. The explosives business was operated under the umbrella of the then existing Newfoundland Hard-Rok division of McKay’s company, MRO Supplies Ltd. Then in 1987 Newfoundland Hard-Rok Inc was incorporated as a separate entity by Glen McKay who sold part of it to MRO employees Carl Foss and Keith Phelan, who were heading up the explosives division of MRO. It’s been a booming success. Keith and Carl take care of operations and McKay takes care of finance and administration. Our operating premise is that if you really value your people, they in turn will increase the value of your business. Simple but very effective. http://www.hardrok.ca
President, Founder at Sealan Capital Corporation Inc.January 1979 - Present | Newfoundland And Labrador, Alberta
Consulting services, private and public equity investments. Residential and commercial property leasing.
Board of Member, Co Founder at Apex Construction Specialities Inc.June 1987 - June 2017 | Newfoundland and Labrador
Glen McKay provided the start up capital in 1987 and remained a significant shareholder and Board Member until Apex was sold to a Quebec investment group in June 2017. A classic example of investing in great people with great ideas who have the motivation to succeed.
President, CEO, Vice Chair, Co-Founder at Cornerstone Capital Resources Inc.July 1997 - May 2012 | Canada, Ecuador, Chile
During Glen McKay’s tenure Cornerstone expanded resource exploration beyond NL to Ecuador and Chile, and became recognized internationally for its technical and business acumen. It was during that time that Cornerstone acquired the Cascabel project in Ecuador. Ongoing drilling indicates that Cascabel is a huge mineable porphyry copper gold deposit. Glen McKay continues to hold a large number of shares in Cornerstone. http://www.marketwired.com/press-release/cornerstone-acquires-new-gold-silver-copper-projects-in-ecuador-tsx-venture-cgp-1397604.htm
President, Founder at MRO Supplies, LTDAugust 1978 - May 1989 | Newfoundland and Labrador
MRO sold specialized equipment and supplies for Mining, Pulp and Paper, Forestry, Fishery, Marine, Quarries, Water and Sewer and Roadbuilding, from branches in Mount Pearl and Corner Brook, NL. MRO was sold to Stellar Industrial from Nova Scotia in May 1989.
Business Development Executive and Branch Manager, Minpaco St. John's at Hewlett GroupNovember 1973 - August 1978 | Newfoundland and Labrador
Assistant Manager, Home Hardware Store at Hewlett GroupFebruary 1971 - October 1973 | Newfoundland and Labrador
Warehouse Worker at Hewitt Equipment Ltee., CaterpillarSeptember 1969 - January 1971 | Churchill Falls, Newfoundland and Labrador, Canada
Sales Clerk, Home Hardware Store at Hewlett GroupJune 1967 - August 1969 | Newfoundland and Labrador
Deck Hand, Fish Collector Boats at S.T Jones and SonsJune 1965 - August 1966 | Little Bay Islands, Newfoundland and Labrador
Collected cod and turbot from the fishermen in Green Bay from Nippers Harbour to Shoe Cove and delivered it to the fresh fish processing plant in La Scie.
Glen McKay's Interests & Activities:
Business leadership, traveling, resource industry and entrepreneurship.