Source code of Water Mark In VB .NET

For this you need 
1) a picture box with image
2) text box
3) a button

Private Sub Button1_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles Button1.Click
        Dim NF As New Font("Impact", 36, FontStyle.Italic)
        Dim NB As New SolidBrush(Color.FromArgb(64, 192, 255, 255))
        NB.Color = Color.FromArgb(128, 0, 0, 0)
        PictureBox1.CreateGraphics.DrawString(TextBox1.Text, NF, NB, 15, 135)
    End Sub

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