You can use this version of DrawImage to rotate or warp an image. Unfortunately the mathematics for rotation are non-trivial. [Another nice thing would have been to make those calculations automatic.]

If you rotate a point (X, Y) around the origin (0, 0) through angle theta, the resulting point has coordinates (X', Y') where:

    X' = X * Cos(theta) + Y * Sin(theta)
    Y' = -Y * Sin(theta) + Y * Cos(theta)

To rotate an image around its center, this program makes four points representing the corners of the original image. It subtracts half of the rectangle's width and heigh from the points' X and Y coordinates to center the rectangle at the origin. It then uses the previous equations to rotate the corners. Finally it adds values to the corners' X and Y coordinates to make all of the coordinates positive.

Next the program makes an output Bitmap big enough to hold the transformed corners and makes a Graphics object to draw on the Bitmap. It resizes the corners array to remove the last one representing the original image's lower right corner because DrawImage gets confused if you pass it four corners.

Finally the program calls DrawImage to copy the original image onto the destination image using the three transformed corners. The program assigns the resulting Bitmap to a PictureBox's Image property to display the result.

Private Sub btnRotate_Click(ByVal sender As System.Object, _
    ByVal e As System.EventArgs) Handles btnRotate.Click
    ' Copy the output bitmap from the source image.
    Dim bm_in As New Bitmap(picSource.Image)

    ' Make an array of points defining the
    ' image's corners.
    Dim wid As Single = bm_in.Width
    Dim hgt As Single = bm_in.Height
    Dim corners As Point() = { _
        New Point(0, 0), _
        New Point(wid, 0), _
        New Point(0, hgt), _
        New Point(wid, hgt)}

    ' Translate to center the bounding box at the origin.
    Dim cx As Single = wid / 2
    Dim cy As Single = hgt / 2
    Dim i As Long
    For i = 0 To 3
        corners(i).X -= cx
        corners(i).Y -= cy
    Next i

    ' Rotate.
    Dim theta As Single = Single.Parse(txtAngle.Text) * PI _
        / 180.0
    Dim sin_theta As Single = Sin(theta)
    Dim cos_theta As Single = Cos(theta)
    Dim X As Single
    Dim Y As Single
    For i = 0 To 3
        X = corners(i).X
        Y = corners(i).Y
        corners(i).X = X * cos_theta + Y * sin_theta
        corners(i).Y = -X * sin_theta + Y * cos_theta
    Next i

    ' Translate so X >= 0 and Y >=0 for all corners.
    Dim xmin As Single = corners(0).X
    Dim ymin As Single = corners(0).Y
    For i = 1 To 3
        If xmin > corners(i).X Then xmin = corners(i).X
        If ymin > corners(i).Y Then ymin = corners(i).Y
    Next i
    For i = 0 To 3
        corners(i).X -= xmin
        corners(i).Y -= ymin
    Next i

    ' Create an output Bitmap and Graphics object.
    Dim bm_out As New Bitmap(CInt(-2 * xmin), CInt(-2 * _
        ymin))
    Dim gr_out As Graphics = Graphics.FromImage(bm_out)

    ' Drop the last corner lest we confuse DrawImage, 
    ' which expects an array of three corners.
    ReDim Preserve corners(2)

    ' Draw the result onto the output Bitmap.
    gr_out.DrawImage(bm_in, corners)

    ' Display the result.
    picDest.Image = bm_out
End Sub