Unable to load IHttpModule using ASP.NET web application (Web API VB.NET code), it is always returning back an error "Could not load type"

Question

I am trying to implement basic authentication to ASP.NET Web API project, I have created a class BasicAuthHttpModule implementing IHttpModule successfully, but when I am trying to register the module in web.config file, it is always returning back an error:

Server Error in '/' Application.
Could not load type 'testIhttpModule.Modules.BasicAuthHttpModule' from assembly 'testIhttpModule'

The funny part that when I made the same exact project in C#, it is working like a charm! But the business need to use VB.NET.

Could anybody help me solve the issue? Here is my IHttpModule class definition and the web.config part for registering the module:

Imports System
Imports System.Collections.Generic
Imports System.Linq
Imports System.Net.Http.Headers
Imports System.Security.Principal
Imports System.Text
Imports System.Threading
Imports System.Web

Namespace testIhttpModule.Modules
    Public Class BasicAuthHttpModule
        Implements IHttpModule

        Private Const Realm As String = "My Realm"

        Public Sub Init(ByVal context As HttpApplication) Implements IHttpModule.Init
            AddHandler context.AuthenticateRequest, AddressOf OnApplicationAuthenticateRequest
            AddHandler context.EndRequest, AddressOf OnApplicationEndRequest
        End Sub

        Private Shared Sub SetPrincipal(ByVal principal As IPrincipal)
            Thread.CurrentPrincipal = principal

            If HttpContext.Current IsNot Nothing Then
                HttpContext.Current.User = principal
            End If
        End Sub

        Private Shared Function CheckPassword(ByVal username As String, ByVal password As String) As Boolean
            Return (username = "admin" AndAlso password = "admin")
        End Function

        Private Shared Sub AuthenticateUser(ByVal credentials As String)
            Try
                Dim encoding As Encoding = Encoding.GetEncoding("iso-8859-1")
                credentials = encoding.GetString(Convert.FromBase64String(credentials))
                Dim separator As Integer = credentials.IndexOf(":"c)
                Dim name As String = credentials.Substring(0, separator)
                Dim password As String = credentials.Substring(separator + 1)

                If CheckPassword(name, password) Then
                    Dim identity = New GenericIdentity(name)
                    SetPrincipal(New GenericPrincipal(identity, Nothing))
                Else
                    HttpContext.Current.Response.StatusCode = 401
                End If

            Catch __unusedFormatException1__ As FormatException
                HttpContext.Current.Response.StatusCode = 401
            End Try
        End Sub

        Private Shared Sub OnApplicationAuthenticateRequest(ByVal sender As Object, ByVal e As EventArgs)
            Dim request = HttpContext.Current.Request
            Dim authHeader = request.Headers("Authorization")

            If authHeader IsNot Nothing Then
                Dim authHeaderVal = AuthenticationHeaderValue.Parse(authHeader)

                If authHeaderVal.Scheme.Equals("basic", StringComparison.OrdinalIgnoreCase) AndAlso authHeaderVal.Parameter IsNot Nothing Then
                    AuthenticateUser(authHeaderVal.Parameter)
                End If
            End If
        End Sub

        Private Shared Sub OnApplicationEndRequest(ByVal sender As Object, ByVal e As EventArgs)
            Dim response = HttpContext.Current.Response

            If response.StatusCode = 401 Then
                response.Headers.Add("WWW-Authenticate", String.Format("Basic realm=""{0}""", Realm))
            End If
        End Sub

        Public Sub Dispose() Implements IHttpModule.Dispose
        End Sub
    End Class
End Namespace

And this is the web.config register part:

<system.webServer>
    <modules>
        <add name="BasicAuthHttpModule" type="testIhttpModule.Modules.BasicAuthHttpModule,testIhttpModule" />
    </modules>
    <handlers>
        <remove name="ExtensionlessUrlHandler-Integrated-4.0"/>
        <remove name="OPTIONSVerbHandler"/>
        <remove name="TRACEVerbHandler"/>
        <add name="ExtensionlessUrlHandler-Integrated-4.0" path="*." verb="*" type="System.Web.Handlers.TransferRequestHandler"
             preCondition="integratedMode,runtimeVersionv4.0"/>
    </handlers>
</system.webServer>

After googling the issue more than 16 hours, I have ended up with some post advising to create folder App_Code and to move the class into it. I was able to load the module, but another error occurs:

enter image description here

Here is my project hierarchy:

enter image description here

I am trying to register the module in web.config file, I am expecting the project will run without any error, but the result always an error

Server Error in '/' Application.
Could not load type 'testIhttpModule.Modules.BasicAuthHttpModule' from assembly 'testIhttpModule'.