What do the directions say on your new fan? What kind of fan is it (brand)? If it is a Casablanca then it may not need three wires. They use a microprocessor to send signals to the fan through the black wire. If you don't connect it right then you can fry the wall unit and they are at least $50. Casablancas use only the white and black. The white from the fan goes with the other whites in the box and the black gets switched and controlled through the wall unit. If the directions don't mention a third wire then you probably don't need it and you can wire nut both ends. I have only laid out one scenario. I'm sure others will chime in with other possibilities. Make sure you are 100% sure of what you should do before you start hooking up wires.