(VB) Suggestions with implementing a player shoot event - vb.net

Question

I'm currently working on a game in Visual Basic similar to an arcade shooter. The player moves their ship left and right across the screen using the arrow keys, while they 'shoot' using the spacebar. Problem is, I'm not sure where to place the bullet's movement so it will constantly move (not just spawn on a key-down event) and be updated by the Render() function. Any help or suggestions would be greatly appreciated.
My current code is displayed below; it's my first time using a game loop, so apologies if anything's misused.
Public Class frmMain
'Diming drawing surface & controls
Dim g, bbg As Graphics
Dim backBuff As Bitmap
Dim keys(256) As Boolean
Dim clientWidth, clientHeight As Integer
Dim timer As Stopwatch
Dim interval, startTick As Long
'Diming playerShip
Dim playerSize As Long = 64
Dim playerShip As New Rectangle(180, 430, playerSize, playerSize)
Dim playerLoc As New Point(playerShip.Location)
Dim playerSpr As Image = My.Resources.sprPlayer
Dim playerSpeed As Long
'Diming playerBullet
Dim playerBulletWidth As Long = 9
Dim playerBulletHeight As Long = 20
Dim playerBullet As New Rectangle(playerLoc.X, playerLoc.Y - 20, playerBulletWidth, playerBulletHeight)
Dim playerBulletLoc As New Point(playerBullet.Location)
Dim playerBulletSpr As Image = My.Resources.sprPlayerBullet
Dim playerBulletSpeed As Long
Dim playerShoot As Boolean = False
Public Sub frmMain_Load(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles MyBase.Load
'Configuring specific properties of the form
Me.DoubleBuffered = True
Me.MaximizeBox = False
Me.FormBorderStyle = Windows.Forms.FormBorderStyle.Fixed3D
'Me.BackColor = Color.Black
'configuring timer controls
interval = 16
timer = New Stopwatch()
'Assigning values to empty variables
clientWidth = 450
clientHeight = 550
playerSpeed = 5
playerBulletSpeed = 5
'Configuring drawing surface
g = Me.CreateGraphics
backBuff = New Bitmap(clientWidth, clientHeight, Imaging.PixelFormat.Format32bppPArgb)
bbg = Graphics.FromImage(backBuff)
'Initially draw playerShip
bbg.DrawImage(playerSpr, playerShip)
'bbg.DrawImage(playerBulletSpr, playerBullet)
End Sub
Private Sub frmMain_KeyDown(ByVal sender As Object, ByVal e As System.Windows.Forms.KeyEventArgs) Handles Me.KeyDown
keys(e.KeyCode) = True
End Sub
Private Sub frmMain_KeyUp(ByVal sender As Object, ByVal e As System.Windows.Forms.KeyEventArgs) Handles Me.KeyUp
keys(e.KeyCode) = False
End Sub
Private Sub frmMain_Shown(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles MyBase.Shown
GameLoop()
End Sub
Private Sub GameLoop()
timer.Start()
Do While (Me.Created)
startTick = timer.ElapsedMilliseconds
GameLogic()
Render()
Application.DoEvents()
'Allows game to run at constant speed on different machines
Do While timer.ElapsedMilliseconds - startTick < interval
Loop
Loop
End Sub
Private Sub GameLogic()
'Spawning, movement & collision
Dim keyPressed As Boolean = False
'playerShip movement & shooting
'Checks for no collision with form's right wall
If Not playerShip.Location.X + playerSpeed > clientWidth - playerShip.Width - playerSpeed Then
'Move playerShip right (right arrow)
If keys(39) Then
playerLoc = New Point(playerShip.Location.X + playerSpeed, playerShip.Location.Y)
playerShip.Location = playerLoc
keyPressed = True
End If
End If
'Checks for no collision with form's left wall
If Not playerShip.Location.X - playerSpeed < 0 Then
'Move playerShip left (left arrow)
If keys(37) Then
playerLoc = New Point(playerShip.Location.X - playerSpeed, playerShip.Location.Y)
playerShip.Location = playerLoc
keyPressed = True
End If
End If
'Launch bullet (space-bar)
If keys(32) Then
playerShoot = True
keyPressed = True
PlayerShipShoot()
End If
End Sub
Private Sub PlayerShipShoot()
'Add bullet activity here... maybe
End Sub
Private Sub Render()
'Drawing playerShip & playerBullet
bbg.DrawImage(playerSpr, playerShip)
If playerShoot = True Then
bbg.DrawImage(playerBulletSpr, playerBullet)
End If
'Drawing backBuff to the form
g.DrawImage(backBuff, 0, 0)
bbg.Clear(Color.Silver)
End Sub
End Class
Thanks.