Yup, that's my reading of it too Dzug (it's Article 9 actually but that would be picky).
You can choose from one or more of the following remedies:
"9.3.1.1(a) Remedy One - we will reimburse the fare paid for your ticket for the part of carriage not used or the whole amount paid if, as a result of the cancellation, the carriage no longer serves any purpose in relation to your original travel plans, and, if relevant, carry you to the first point of departure in your contract of carriage on the earliest flight with suitable space available;".
That is the one you are invoking.
In addition, remedy 4 says:
"9.3.1.4 we will pay you compensation, unless Article 9.3.2 applies [which it doesn't in your case], in the amount of 600 Euros, which will be reduced to 300 Euros if you choose re-routing pursuant to Articles 9.3.1.1(b) or 9.3.1.1(c) and such re-routing results in a scheduled time of arrival at your final destination which is no more than fours hour later than the scheduled time of arrival of the flight originally booked.
9.3.2 No compensation will payable to you pursuant to Article 9.3.1.4 if any of the following four provisions applies:
9.3.2.1 [not copied - irrelevant to you]
9.3.2.2 you have been informed of the cancellation no less than two weeks before the scheduled time of departure;
It's more than 2 weeks so you don't get your 300 Euros as well.