CreateTrusted does not find GWtapp.dll

I am trying to run the VB.NET Sample "CreateTrusted" to register a
Trusted Application.
I have the GWtapp.dll in the same directory as the exe.
However, I get the error: "Unable to load DLL 'GWTApp.DLL': The
specified module could not be found. (Exception from HRESULT: 0x8007007E)"
As a workaround, I tried having the dll in systems32 - same effect.

What is wrong?

Your help is very much appreciated

Beat