Sorry, I was getting ahead of myself. Here's what I have now:
Sub GetBoundingCoords(ByRef pRaster As IRasterDataset, ByVal Filepath As String)
Dim workspaceFactory As ESRI.ArcGIS.Geodatabase.IWorkspaceFactory = New RasterWorkspaceFactoryClass()
Dim rasterWorkspace As ESRI.ArcGIS.DataSourcesRaster.IRasterWorkspace = CType(workspaceFactory.OpenFromFile(Filepath, 0), ESRI.ArcGIS.DataSourcesRaster.IRasterWorkspace)
Dim rasterDataset As IRasterDataset = rasterWorkspace.OpenRasterDataset(Filepath)
Dim geoDs As IGeoDataset = DirectCast(rasterDataset, IGeoDataset)
End Sub
So now, rasterWorkspace.OpenRasterDataset isn't underlined as an error because I've dimensioned rasterWorkspace. However, "New RasterWorkspaceFactoryClass()" is underlined.