Notice the weasel words in the statement: ARMZ has a right to terminate the agreement with 90 days notice...maybe that was served?
Another weasel sentence is 'Not to acquire Uranium one shares without U1 consent"...Who controls the U1 board...? ARMZ. besically they are saying that they promise not to acquire more shares unless they change their minds.
Think of businessmen like politicians and then you'll never be disappointed, no one ever expects a politician to keep their word...
There are plenty of other good reasons to object and say no to the offer, I just think this one is a dead-end.