Attached files
Exhibit 99.3
Superior Silver Mines, Inc.
Announces Completion of Merger
Announces Completion of Merger
Wallace, Id., December 29, 2010 Superior Silver Mines, Inc. (OTCBB:SSVM) (the Company)
announced it has completed a reverse merger transaction with Clean Wind Energy, Inc. (Clean
Wind), which plans to design, develop and construct large downdraft towers to generate electricity
and clean water economically. Today, Clean Wind became a wholly-owned subsidiary of the Company.
As a result, the business operations of Clean Wind will comprise the Companys principal business
operations going forward. The Company will continue to be traded on the OTCBB under the symbol
SSVM.
Under the terms of the Agreement and Plan of Merger, dated December 29, 2010, by and among the
Company, Clean Wind and Superior Silver Mines Acquisition Corp., a wholly-owned subsidiary of the
Company, the Clean Wind stockholders were issued in exchange for their Clean Wind common stock, the
right to receive an aggregate of 300,000,000 shares of the Companys common stock. Following the
merger, the Company now has 327,055,199 shares of common stock issued and outstanding, of which the
pre-merger stockholders of the Company own approximately 6% on a fully diluted basis and of which
the pre-merger stockholders of Clean Wind own approximately 92% on a fully diluted basis.
In connection with the merger, Dale B. Lavigne resigned as a director of the Company and Ronald W.
Pickett and Robert P. Crabb were appointed to the Companys Board of Directors to fill the vacancy
created by Mr. Lavignes resignation and a pre-existing vacancy.
Commenting on the transaction, Ronald W. Pickett, the Companys President, CEO and Chairman,
stated, the Clean Wind team has been working diligently this year merging proven techniques and refining known technologies to
bring this clean renewable method of producing economical electricity to the market. We believe the best form of
ownership for this business should be with the public and we are pleased to have accomplished that milestone through
this merger.
Additional information about the merger and Clean Wind can be found in the Companys Current Report
on Form 8-K to be filed with the Securities and Exchange Commission no later than January 5, 2011.
About Superior Silver Mines, Inc.
Prior to the closing, Superior Silver Mines, Inc. was a public shell company with nominal assets
whose purpose was to seek, investigate and, if such investigation warranted, acquire an interest in
business opportunities presented to it by other persons or firms.
Forward-Looking Statements
Statements about the Companys future expectations, including its plans to design, develop and
construct large downdraft towers that use benevolent, non-toxic natural elements to generate
electricity and clean water economically by integrating and synthesizing numerous proven as well as
emerging technologies, its intent to be prepared to establish partnerships at home and abroad
to propagate these systems and meet increasing global demand for clean water and electricity, and
all other statements in this press release other than historical facts are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act
of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change
at any time, and the Companys actual results could differ materially from expected results. These
risks and uncertainties include that it is an early stage company and has not yet commenced with
the sale of its products, it has a history of losses, its strategies for development of the
business might not be successful, it expects to rely upon strategic relationships in order to
execute its business plan and it may not be able to consummate the strategic relationships
necessary to execute its business plan, project development or construction activities may not be
successful and proposed projects may not receive required permits or construction may not proceed
as planned, potential future financings could involve a dilution of the interests of the
stockholders of the Company upon the issuance of additional shares of Common Stock and/or other
securities, its business is subject to significant government regulation and, as a result, changes
to such regulations may adversely affect its business, its ability to successfully integrate the
businesses of
acquired companies, competitive and economic influences, as well as certain other risks. Additional
information about these and other factors that could affect the Companys business is set forth in
the Companys various filings with the Securities and Exchange Commission, including those set
forth in the Companys 8-K to be filed no later than January 5, 2011, under the caption Risk
Factors. The Company undertakes no obligation to update or release any revisions to these
forward-looking statements to reflect events or circumstances after the date of this statement or
to reflect the occurrence of unanticipated events, except as required by law.
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